Ans. 1 | Labor rate variance = (Standard rate * Actual hours) - Actual labor cost | ||
($10.40 * 306,000) - $3,335,400 | |||
$3,182,400 - $3,335,400 | |||
-$153,000 | or $153,000 unfavorable | ||
Ans. 2 | Labor efficiency variance = (Standard hours - Actual hours) * Standard rate | ||
(255,000 - 306,000) * $10.40 | |||
-51,000 * $10.40 | |||
-$530,400 | or $530,400 unfavorable | ||
Standard hours = Actual units produced and sold * standard hours per unit | |||
1,020,000 * 0.25 hr. | |||
255,000 hours | |||
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $326,880 - 908,000 units) Standard Quantity 11 sq ft. 0.25 hr. 025 hr Standard Price (Rate) $ 0.73 per sq. ft. $ 10.40 per hr. $ 2.00 per hr. Standard Unit Cost $ 8.03 2.60 0.50 0.36 Parker Plastic had the following actual results...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Unit Cost 8.03 2.60 Quantity 11 sq ft 0.25 hr Standard Price (Rate) $ 0.73 per sq. ft $10.40 per hr. Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $326,880 908,000 units) $ 2.00 per hr. 0.25 hr. 0.50 0.36 Parker Plastic had the following actual results for the past...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Price (Rate) init Cost Standard Quantity 12 sq ft. 8.25 hr. $ 0.72 per sq. ft. $12.20 per hr. 58.64 3.es Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($378,000 + 900,000 units) 0.25 hr. $ 1.20 per hr. 0.30 0.42 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 12 sq ft. 0.25 hr. Standard Price (Rate) Standard Unit Cost $ 0.72 per sq. ft. $8.64 $12.20 per hr. 3.05 Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($378,000 + 900,000 units) 0.25 hr. $ 1.20 per hr. 0.39 0.42 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost Information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($364,880 = 912, e80 units) Standard Quantity 13 sq ft. @.3 hr. 0.3 hr. Standard Standard Price (Rate) Unit Cost $ 8.93 per sq. ft. $ 12.09 $19.90 per hr. 3.27 $ 2.40 per hr. 2.72 0.40 Parker Plastic had the following actual results...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $559,200 - 932,000 units) Standard Quantity 12 sq ft. 0.25 hr. 0.25 hr. Standard Price (Rate) $ 1.00 per sq. ft. $ 12.80 per hr. $ 2.00 per hr. Standard Unit Cost $12.00 3.20 0.50 0.60 Parker Plastic had the following actual results for...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $639,200 = 940,000 units) Standard Quantity 10 sq ft. 0.3 hr. 0.3 hr. Standard Price (Rate) $ 1.40 per sq. ft. $13.70 per hr. $ 1.50 per hr. Standard Unit Cost $14.00 4.11 0.45 0.68 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Standard Price (Rate) $ 0.90 per sq. ft $12.60 per hr. Quantity 15 sq ft 0.25 hr Unit Cost Direct materials (plastic) $13.50 3.15 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $539,400 930,000 units) 0.25 hr $ 1.80 per hr 0.45 0.58 Parker Plastic had the following actual results for the past...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 12 sq ft. 0.25 hr. 0.25 hr. Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $559,200 - 932,000 units) Standard Unit Cost $12.00 3.20 Standard Price (Rate) $ 1.00 per sq. ft. $ 12.80 per hr. $ 2.00 per hr. 0.50 0.60 Parker Plastic had the following actual results for...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 9 sq ft 0.3 hr Standard Unit Cost $ 9.72 Standard Price (Rate) $ 1.08 per sq. ft. 11.30 per hr. 2.80 per hr. Direct materials (plastic) Direct labor 3.39 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $403,040 916,000 units) 0.3 hr. 0 84 0.44 Parker Plastic had the following actual results for the...