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Elements of Labor and Variable Overhead Variances Chelsea Fabricating applies variable overhead to products on the basis of standard direct labor hours. Presented is selected information for last month when 10,000 units were produced. Required Solve for items "a" through "h." Direct labor Variable overhead f. $ 58,000 x 0.25 6,600 $24.00 Actual a. $ Standard hours/unit Actual hours (total) Standard rate/hour Actual rate Flexible budget Labor rate or variable overhead spending variance c. $ Efficiency variances Total flexible budget...
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10 material (day Direct labor Variable manufacturing overhead (based on direct labor hours) manufacturing overhead (5392,990.00 140,000.00 units 70 hrs. $ 1.1e per hr Barley Hopp had the following actual results last year 145,000 258,280 438,940 Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor COS Variable overhead cost Fixed Overhead cost 190,- Salad 410,000 Required: 1. Calculate the direct materiais price, quantity and total spending variances...
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The following data reflect the current month’s activity for
Vickers Corporation.
Actual total direct labor
$
639,115
Actual hours worked
36,500
Standard labor-hours allowed for actual output (flexible
budget)
35,300
Direct labor price variance
$
17,885
F
Actual variable overhead
$
159,400
Standard variable overhead rate per standard direct
labor-hour
$
4.40
Variable overhead is applied based on standard direct
labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency
variances. (Indicate the effect of each variance by...
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1. Compute the direct material, direct labor and variable overhead variances. S 5 ? - X X] H FILE Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME Sign In * Calibri Calibri 111 A A = % V ö Paste B I U - A ont Number Conditional Format as Cell Alignment Number Formatting Table Styles - Cells Editing Clipboard B Font x Styles 41 : fc...
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The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $671,460 38,000 36,900 $ 12,540 F $154,500 $ 4.10 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each variance by selecting "F"...
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Se The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $642,400 36,500 35,200 $ 14,600 F $159,200 $ 4.40 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances, (Indicate the effect of each favorable, or "U"...
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eBook Print Question 8 Partially correct Mark 050 out of 1.00 P Pag question Direct Labor Variances Assume that Nortel manufactures specialty electronic circuitry through a unique photoelectronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $15.50 per hour. During February, the following activities pertaining to direct labor for DX40 were recorded: Direct labor hours used 2.230 Direct labor cost 540.000 Units of ZX40 manufactured 4.700...
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PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable
Overhead Variances [LO 9-3, 9-4, 9-5]
Barley Hopp, Inc., manufactures custom-ordered commemorative
beer steins. Its standard cost information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (clay)
1.70
lbs.
$
1.80
per lb.
$
3.06
Direct labor
1.70
hrs.
$
11.00
per hr.
18.70
Variable manufacturing overhead (based on direct labor
hours)
1.70
hrs.
$
1.10
per hr.
1.87
Fixed manufacturing overhead ($420,500.00 ÷ 145,000.00
units)
2.90
Barley Hopp...
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The following data reflect the current month’s activity for
Vickers Corporation.
Actual total direct labor
$
688,940
Actual hours worked
37,000
Standard labor-hours allowed for actual output (flexible
budget)
35,600
Direct labor price variance
$
14,060
F
Actual variable overhead
$
165,200
Standard variable overhead rate per standard direct
labor-hour
$
4.50
Variable overhead is applied based on standard direct
labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency
variances. (Indicate the effect of each variance by...
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The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
Elements of Labor and Variable Overhead Variances Chelsea Fabricating applies variable overhead to products on the basis of standard direct labor hours. Presented is selected information for last month when 10,000 units were produced. Required Solve for items "a" through "h." Direct labor Variable overhead f. $ 58,000 x 0.25 6,600 $24.00 Actual a. $ Standard hours/unit Actual hours (total) Standard rate/hour Actual rate Flexible budget Labor rate or variable overhead spending variance c. $ Efficiency variances Total flexible budget...
10 material (day Direct labor Variable manufacturing overhead (based on direct labor hours) manufacturing overhead (5392,990.00 140,000.00 units 70 hrs. $ 1.1e per hr Barley Hopp had the following actual results last year 145,000 258,280 438,940 Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor COS Variable overhead cost Fixed Overhead cost 190,- Salad 410,000 Required: 1. Calculate the direct materiais price, quantity and total spending variances...
The following data reflect the current month’s activity for
Vickers Corporation.
Actual total direct labor
$
639,115
Actual hours worked
36,500
Standard labor-hours allowed for actual output (flexible
budget)
35,300
Direct labor price variance
$
17,885
F
Actual variable overhead
$
159,400
Standard variable overhead rate per standard direct
labor-hour
$
4.40
Variable overhead is applied based on standard direct
labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency
variances. (Indicate the effect of each variance by...
1. Compute the direct material, direct labor and variable overhead variances. S 5 ? - X X] H FILE Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME Sign In * Calibri Calibri 111 A A = % V ö Paste B I U - A ont Number Conditional Format as Cell Alignment Number Formatting Table Styles - Cells Editing Clipboard B Font x Styles 41 : fc...
The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $671,460 38,000 36,900 $ 12,540 F $154,500 $ 4.10 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each variance by selecting "F"...
Se The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $642,400 36,500 35,200 $ 14,600 F $159,200 $ 4.40 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances, (Indicate the effect of each favorable, or "U"...
eBook Print Question 8 Partially correct Mark 050 out of 1.00 P Pag question Direct Labor Variances Assume that Nortel manufactures specialty electronic circuitry through a unique photoelectronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $15.50 per hour. During February, the following activities pertaining to direct labor for DX40 were recorded: Direct labor hours used 2.230 Direct labor cost 540.000 Units of ZX40 manufactured 4.700...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...