The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding...
The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In addition, the variances for one month's production are given. Assume that all inventory accounts have zero balances at the beginning of the month.
| Standard Cost Per Unit | Standard Monthly Costs | ||||||
| Materials | $ | 5.00 | $ | 11,000 | |||
| Direct Labor 3 hrs @ $2.00 | 6.00 | 13,200 | |||||
| Factory Overhead: | |||||||
| Variable | 2.00 | 4,400 | |||||
| Fixed | 5.00 | 11,000 | |||||
| $ | 18.00 | $ | 39,600 | ||||
| Variances: | ||||
| Material price | $ | 337.50 | unfavorable | |
| Material quantity | $ | 500.00 | unfavorable | |
| Labor rate | $ | 550.00 | favorable | |
| Labor efficiency | $ | 2,150.00 | unfavorable | |
What were the actual direct labor hours worked during the month?
-
7,675
-
7,400
-
6,600
-
6,325
Homework Answers
Answer: Actual Labor hours 7,675
Total Numer of Units Prodcued = 39,600/ 18.00 = 2,200 units
Standard Hours = 2,200 *3 = 6,600
actula Hours
Labour Efficiency Varaince =( Actula Hours - Standard Hours )* Standard Rate
=( Actula Hours -6,600) *2.00 =2,150 = 7,675 (Answer)
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The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding...
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