Jess Company Valerie Inc Units produced: 220 1,000 Standard Hours per unit: 3.5 Standard Hours: 770 Stand...
| Jess Company | Valerie Inc |
|---|---|
| Units produced: 220 | 1,000 |
| Standard Hours per unit: 3.5 | |
| Standard Hours: 770 | |
| Standard Rate per Hour: 10 | 10 |
| Actual Hours Worked: | 18,900 |
| Actual Labor Cost: 6300 | 110,000 |
|
Direct Labor Rate Variance:400 |
Direct Labor Efficiency Variance: 6400
Please help me to fill in the blanks of this chart!
Homework Answers
Jess Company
Direct Labor Rate Variance = (Standard Rate – Actual Rate)*Actual Hours
400 = (10-Actual Rate)*Actual Hours
400 = 10*Actual Hours – 6300
Actual Hours = 670 hours
Valerie Inc
Direct Labor Efficiency Variance = (Standard Hours – Actual Hours)*Standard Rate
6,400 = (Standard Hours – 18,900)*10
Standard Hours = 19,540
Per unit = 19,540/1,000
= 19.54 hours
It has been assumed that both variances are possible
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