Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct...
Which of the following will result in an unfavorable direct labor PRICE variance?
when actual direct labor hours exceed standard direct labor hours
when actual direct labor hours are less than standard direct labor hours
when the actual direct labor rate exceeds the standard direct labor rate
when the actual direct labor rate is less than the standard direct labor rate
Homework Answers
Unfavorable variance means actual is higher than standard so unfavorable price variance means actual price (rate) is higher than standard price (rate).
So answer is c) when the actual direct labor rate exceeds the standard direct labor rate
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Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct...
Which of the following is true if the actual labor rate exceeds the standard labor rate...
Which of the following is true if the actual labor rate exceeds the standard labor rate and the actual labor hours exceed the number of hours allowed? a. Materials Usage Variance Unfavorable; Materials Efficiency Variance Favorable b. Labor Rate Variance Favorable; Labor Efficiency Variance Favorable c. Labor Rate Variance Unfavorable; Labor Efficiency Variance Unfavorable d. Materials Usage Variance Favorable; Materials Efficiency Variance Unfavorable
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is les...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual...
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"...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours Price $8.30 Actual Hours X Standard Price $6.90 STANDARD LABOR COST Standard Standard Hours Price 1,500X $6.90 Direct-labor rate variance $197 Unfav. Direct-labor efficiency variance Direct-labor variance DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual Actual Standard Standard Standard Quantity X Price Quantity Price Quantity X Price 420 420 $345.00 435 x $345.00 $2,950 Fav. Direct-material price variance $8.125...
Assume when you calculated direct material price variance, you found that actual costs of direct material...
Assume when you calculated direct material price variance, you found that actual costs of direct material used is greater than the material budgeted costs based on actual units purchased and used. In this case the material price variance is: a. Favorable b. Unfavorable c. Significant d. Positive Given: Actual labor costs: $200.00 Flexible budget allowed for actual units used: $180.00 based on budgeted units: $189.00 Labor rate variance is: a. $20 Favorable b. $20 Unfavorable c. $9 Favorable d. $9...
The following information describes a company's direct labor usage in a recent period. Actual direct labor...
The following information describes a company's direct labor usage in a recent period. Actual direct labor hours used (AH) Actual direct labor rate per hour (AR) Standard direct labor rate per hour (SR) Standard direct labor hours for units produced (SH) 55,000 $ 14 $ 12 56,200 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable...
Given the following information for The Pelican Inn, what is the direct labor time variance? Actual...
Given the following information for The Pelican Inn, what is the direct labor time variance? Actual housekeeping staff hours worked 760 Standard staff hours for rooms cleaned 800 Standard staff pay rate per hour $12.50 Actual staff pay rate per hour $13.00 a.$500 unfavorable b.$400 unfavorable c.$(20) favorable d.$(500) favorable
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget....
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget. B. Using more or less direct labor than the standard allows. C. Setting a higher or lower wage standard than is practical. D. Paying more or less for direct materials than the standard allows. Assembly line workers at Thompson Manufacturing worked a total of 12,000 direct labor hours to produce 36,000 units. The standard for producing one unit is 15 minutes at a wage...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
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"...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours Price $8.30 Actual Hours X Standard Price $6.90 STANDARD LABOR COST Standard Standard Hours Price 1,500X $6.90 Direct-labor rate variance $197 Unfav. Direct-labor efficiency variance Direct-labor variance DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual Actual Standard Standard Standard Quantity X Price Quantity Price Quantity X Price 420 420 $345.00 435 x $345.00 $2,950 Fav. Direct-material price variance $8.125...
The following information describes a company's direct labor usage in a recent period. Actual direct labor hours used (AH) Actual direct labor rate per hour (AR) Standard direct labor rate per hour (SR) Standard direct labor hours for units produced (SH) 55,000 $ 14 $ 12 56,200 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable...
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