Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Actual Hours X X $ Actual Rate Direct Labor Variance: Actual Hours X X Total Direct Labor Variance: Standard Rate Direct Labor Variance: Standard Hours Stand

Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Actual Hours X X $ Actual Rate Direct Labor Variance: Actual Hours X X Total Direct Labor Variance: Standard Rate Direct Labor Variance: Standard Hours Stand

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Description: Accounting Capstone - Budget Performace Variance Report StandardHoursStandard Cost11AXXtAStandardRate Direct LaborUnder normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August,

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,880 for 7,320 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost ActualHours X ActualRate ActualHours X StandardRate StandardHours X StandardRate fill in the blank 8ad6b700d058ff4_1 X $fill in the blank 8ad6b700d058ff4_2 fill in the blank 8ad6b700d058ff4_3 X $fill in the blank 8ad6b700d058ff4_4 fill in the blank 8ad6b700d058ff4_5 X $fill in the blank 8ad6b700d058ff4_6 = $fill in the blank 8ad6b700d058ff4_7…
Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.8 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,148 for 7,320 hours of direct labor in the production of 2,300 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost Actual Hours X Actual Rate Actual Hours X Standard Rate Standard Hours X Standard Rate X X = = = Direct Labor Variance: Direct Labor Variance: Total Direct Labor Variance:
Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Direct Labor - (unfavorable, favorable) Variance - (cost, price, quantity, rate, time)
Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,610 for 7,290 hours of direct labor in the production of 2,300 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost ActualHours X ActualRate ActualHours X StandardRate StandardHours X StandardRate fill in the blank b8e89601ef8d04f_1 X $fill in the blank b8e89601ef8d04f_2 fill in the blank b8e89601ef8d04f_3 X $fill in the blank b8e89601ef8d04f_4 fill in the blank b8e89601ef8d04f_5 X $fill in the blank b8e89601ef8d04f_6 = $fill in the blank b8e89601ef8d04f_7 = $fill in…
Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $24.50 per hour. During July, Whitman paid $198,000 to employees for 8,980 hours worked. 4,720 units were produced during July. What is the direct labor rate variance?
The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $765,700, and total direct labor costs would be $589,000. During May, the actual direct labor cost totaled $51,000, and factory overhead cost incurred totaled $68,950. A)What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. b) Journalize the entry to apply factory overhead to production for May. Work in Process-Blending Department Factory Overhead-Blending Department C) What is the May 31 balance of the account Factory Overhead—Blending Department? Amount:
Workers at Vaughn News were paid a total of $40,860 during the month of July. The company’s standard wage rate was $9 per hour, and the direct labor rate variance for the month was $1,377 Unfavorable.How many direct labor hours were worked during July? Direct labor hours Click if you would like to Show Work for this question: Open Show Work
Cavy Company estimates that total factory overhead costs will be $1,053,206 for the year. Direct labor hours are estimated to be 107,800. a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent. $4 per direct labor hour b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and to Job 777 if the amount of direct labor hours is 3,300. Job 345 Job 777 $4 c. Journalize the entry to record the factory overhead applied if Jobs 345 and 777 are the only jobs for the period. If an amount box does not require an entry, leave it blank.
Tropic Inc. applies overhead based on machine hours. At the beginning of 2021 Tropic estimated overhead to be $400,000, machine hours to be 25,000, and direct labor hours to be 40,000. During May, Opal recorded 3,000 actual direct labor hours and 2,200 actual machine hours. If actual overhead cost for May os $33,750, what is the overhead variance for the month? please answer do not image.