Exercise 10-5 (Algo) Working Backwards from Labor Variances [LO10-2] Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Standard Hours 2.50 Labor rate variance Labor spending variance Standard Rate $ 33.00 Motor tune-up The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: 1. Actual labor hours 2. Actual hourly rate $ 80 F $ 118 U Standard Cost $ 82.50 Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. (Round your answer to 2 decimal places.) hours per hour

Exercise 10-5 (Algo) Working Backwards from Labor Variances [LO10-2] Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Standard Hours 2.50 Labor rate variance Labor spending variance Standard Rate $ 33.00 Motor tune-up The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: 1. Actual labor hours 2. Actual hourly rate $ 80 F $ 118 U Standard Cost $ 82.50 Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. (Round your answer to 2 decimal places.) hours per hour

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...

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Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Instructions Determine (A) the standard cost per unit for direct materials and direct labor; (B) the price variance, quantity variance, and total direct materials cost variance; and (C) the rate variance, time variance, and total direct labor cost variance.
Ellis Companys labor information for September is as follows: A. Compute the standard direct labor rate per hour. B. Compute the direct labor time variance. C. Compute the standard direct labor rate if the direct labor rate variance was $2,712.30 (unfavorable).
Lee Company’s operations for April discussed the following data relating to direct labor: Actual cost P10,000 Rate variance (favorable) 1,000 Efficiency variance (unfavorable) 1,500 Standard cost P9,500 Actual direct labor hours for the month of April amounted to 2,000. What was the standard direct labor hourly rate? Select one: P4.75 P5.50 P4.50 P5.00
Exercise 9-11 (Algo) Working Backwards from Labor Variances [LO9-5] The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Motor tune-up Standard Rate Standard Cost Standard Hours 2.50 $ 34.00 $ 85.00 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 54 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance Labor spending variance $ 350 F $ 500 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.) 1. Actual labor hours 2. Actual hourly rate hours per hour
Exercise 9-11 (Algo) Working Backwards from Labor Variances [LO9-5] The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Motor tune-up Standard Hours 2.50 Standard Rate $ 38.00 Standard Cost $ 95.00 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 450 F Labor spending variance $ 500 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.) 1. Actual labor hours 2. Actual hourly rate hours per hour
Exercise 10-5 (Algo) Working Backwards from Labor Variances [LO10-2] Quality Motor Company established the standard labor cost for a motor tune-up shown below: Motor tune-up Standard Hours 2.50 Standard Rate Standard Cost $ 38.00 $95.00 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop super 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance Labor spending variance Required: $ 450 F $ 500 U 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. Note: Round your answer to 2 decimal places. 1. Actual labor hours 2. Actual hourly rate hours per hour
MC Qu. 84 Use the following data to find... Use the following data to find the totai direct labor cost variance if the company produced 3,500 units during the period. Direct labor standard (4.00 hrs. @ $7.00/hr.) Actual hours worked $ 28.00 per unit 11,950 $4 Actual rate per hour 7.60
Exercise 10-5 (Algo) Working Backwards from Labor Variances [LO10-2] Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Motor tune-up Standard Hours 2.50 Labor rate variance Labor spending variance The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 54 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: 1. Actual labor hours 2. Actual hourly rate Standard Rate $ 34.00 $ 350 F $ 500 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. (Round your answer to 2 decimal places.) hours Standard Cost $ 85.00 per hour
Labor Variances Verde Company produces wheels for bicycles. During the year, 659,000 wheels were produced. The actual labor used was 366,000 hours at $9.70 per hour. Verde has the following labor standards: 1) $10.00 per hour; 2) 0.49 hour per wheel. Required: 1. Compute the labor rate variance.$ 2. Compute the labor efficiency variance.$
Use the following data for questions #5-7 Japan Company produces furniture and has the following data related to its direct labor costs: standard costs are 17,325 hours at an hourly rate of $15.00 per hour and actual costs are 19,250 hours at an hourly rate of $14.90 per hour. 6. What is the direct labor time variance? a. $28,875 Favorable b. $28,875 Unfavorable c. $28,683 Favorable d. $28,683 Unfavorable
Mandy Company has the following information from last month: Standard direct labor hours for units produced (SQ) 3,600 Actual direct labor hours worked (AQ) 3,480 Direct labor efficiency variance, favorable (F) $ 5,760 Total payroll $ 187,920 What was Mandy's actual direct labor rate per hour (AP)? Multiple Choice $43.20. $45.60. $48.00. $52.20. $54.00.
Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual direct labor-hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead rate variance for the month? Multiple Choice TB MC Qu. 10-202 (Algo) A manufacturing company that has only one product... A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. C $1446 F saved SUGSF 3.80 direct labor-hours $11.15 per direct labor-hour Help 8,700 direct labor-hours $ 95,840 2,100 units Save & Exit