--/1 Question 16 View Policies Current Attempt in Progress Clark Company manufactures a product with a standard direct labor cost of two hours at $18 per hour. During July, 1400 units were produced using 3200 hours at $18.30 per hour. The labor quantity variance was port O $7320 U. O $7320 F. O $7200 U. O $6480 U. hp ins fiu f10 prt s fg f7 f8 f6 f5 +. & 96. 80 7 %D Y н TO 96
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Q: -/1 Question 21 View Policies Current Attempt in Progress Oriole has a standard of 1.5 pounds of…
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- --/1 Question 19 View Policies Current Attempt in Progress rt The standard direct labor cost for producing one unit of product is 5 direct labor.hours at a standard rate of pay of $20. Last month, 13000 units were produced and 62000 direct labor hours were actually worked at a total cost of $1116000. The direct labor quantity variance was O $60000 unfavorable. O $60000 favorable. $73000 favorable. O $73000 unfavorable. hp ins F12 f11 f10 fg f8 f7 f6 f5 %3D 7 00 O0 11 60 TO 96--/1 Question 17 View Policies Current Attempt in Progress Coronado Industries manufactures a product with a standard direct labor cost of two hours at $18 per hour. During July, 1400 units were produced using 3200 hours at $18.30 per hour. The labor price variance was oport O $8160 F. O $7200 U. O $8160 U. O $960 U. hp ins prt sc f12 f11 f10 f9 f8 f7 f6 f5 6. 080 6. н TO 96-/1 Question 7 View Policies Current Attempt in Progress Swifty Corporation has a materials price standard of $2.00 per pound. 5100 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 5100 pounds, although the standard quantity allowed for the output was 4900 pounds. Swifty Corporation's materials quantity variance is O $400 U. O $440 U. $400 F. $440 F. (hp 16 17 fe
- --/1 Question 20 View Policies Current Attempt in Progress ort Crane has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 1700 units, Crane used 2800 pounds of materials at a total cost of $16380. Crane's materials price variance is बबवससहेंहे ता O $1500 F. O $420 F. $2625 F. O $1080 U. hp f12 f11 f10 f9 f8 II f7 144 f5 f6 & %3D 081 O0 Y T. 96-/1 Question 21 View Policies Current Attempt in Progress Oriole has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2200 units, Oriole used 3500 pounds of materials at a total cost of $20475. Oriole's materials quantity variance is O $2100 U. O $675 F. O $525 U. O $1200 U. hp ins prt sc f12 f11 f1o f9 f5 f8 17 f6 080 %3D 11 7--/1 Question 9 View Policies Current Attempt in Progress Crane Company produces a product requiring 3 direct labor hours at $16.00 per hour. During January, 1800 products are produced using 6000 direct labor hours. Crane's actual payroll during January was $93600. What is the labor quantity variance? O $7200 U O $9600 U O $9600 F $2400 F hp 110 f9 f8 17 16 15 4+ 10
- -/1 Question 10 View Policies Current Attempt in Progress ort The per-unit standards for direct materials are 2 pounds at $5 per pound. Last month, 12600 pounds of direct materials that actually cost $57600 were used to produce 6600 units of product. The direct materials quantity variance for last month was O $8400 unfavorable. O $3300 favorable. O $3000 unfavorable. O $3000 favorable. hp--/1 Question 18 View Policies Current Attempt in Progress A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If 24000 units of product were produced last month and 73000 pounds of direct materials were used, the direct materials quantity variance was $5000 favorable. O $3000 unfavorable. $5000 unfavorable. O $3000 favorable. op 12 f11 f10 f9 f8 f7 f6 f5 8. 11 60 96 96/1 Question 2 View Policies Current Attempt in Progress The per unit standards for direct labor are 2 direct labor hours per unit at $12 per hour. If the actual direct labor payroll cost was $25,600 for 2,000 direct labor hours worked to produce 1,200 units, the total direct labor variance is O $1,000 unfavorable. O $3,200 unfavorable. O $960 unfavorable. O $3.200 favorable. Chp
- --/1 Question 6 View Policies Current Attempt in Progress Crane Company has a materials price standard of $2.00 per pound. 4000 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4000 pounds, although the standard quantity allowed for the output was 3400 pounds. ort S. Crane Company's materials price variance is O $120 U. O $680 U. O $800 U. O $800 F. hp 110 fg 144 f8 f6 17 f5 00 II 96Problem Set: Module 5 1. PR.08.02B 2. TMM.09.02 3. BE.09.02.EXCEL.ALGO 4. BE.09.01.EXCEL.ALGO 5. TMM.08.01 engagenow.com Direct labor variances Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15,000 units used 63,300 hours at an hourly rate of $19.55 per hour. Open spreadsheet + This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. 42 a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $Variance Problem Standard Quantity Standard Cost Standard price $1.75 per hr $11.50 per hr $5.00 per hr per unit $7.00 $13.80 $6.00 per unit Direct Materials Direct Labor Variable Overhead 4 1.2 1.2 Manufacturing overhead is applied using direct labor hours as the base. During the month of July, XYZ company had the following information available about production: a. 9,000 units were produced b. 37,000 lbs of raw materials were purchased at a cost of $62,900 c. There was no beginning inventory and no ending iInventory of raw materials d. 10,500 hours of direct labor were used during the month at a cost of $119,175 e. Variable overhead cost in July totaled $57,750 Compute the following and verify the total variance for each component of product cost: 1. Material price variance, Material quantity variance, and Total material variance 2. Labor rate variance, Labor efficiency variance, and Total labor variance 3. Variable Overhead spending variance, Variable Overhead efficiency variance,…