For each of the following independent cases, fill in the missing amounts in the table:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance).CaseABсDETDirect Labor Rate Direct Labor Efficiency Direct Labor SpendingVarianceVarianceVariance$$$1,350 U1,400 F1,600 FUU1,250 U$$5A5A5A$$2,400 FU|F1,100 U1,700 F1,750 U$$$$2,300 U3,000 F3,700 U2,550 UEU

Name: For each of the following independent cases, fill in the missing amou
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: For each of the following independent cases, fill in the missing amounts in the table:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance).CaseABсDETDirect Labo

The variance is the difference between the actual data and standard output of the production. The…

Business

Accounting

For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Case A C D EF Direct Labor Rate Variance $ $ $ 1,350 U 1,400 F 1,600 F U U 1,250 U Direct Labor Efficiency Direct Labor Spending Variance Variance $ $ $ $ 2,400 F U F 1,100 U 1,700 F 1,750 U $ $ $ $ 2,300 U 3,000 F 3,700 U 2,550 U U

For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Case A C D EF Direct Labor Rate Variance $ $ $ 1,350 U 1,400 F 1,600 F U U 1,250 U Direct Labor Efficiency Direct Labor Spending Variance Variance $ $ $ $ 2,400 F U F 1,100 U 1,700 F 1,750 U $ $ $ $ 2,300 U 3,000 F 3,700 U 2,550 U U

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $12.00 per hour) $ 12.00 21.60 33.30 Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 66.90 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 70,000 Depreciation-Machinery Taxes and insurance 16,000 Supervisory salaries 254,500 Total fixed overhead costs 364,500
1.What is the labor rate variance ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 2. What is the variable overhead efficiency variance ? ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 3. what is the variable overhead rate variance?
Find the missing values and label F/U Direct Labor Direct Labor Direct Labor Rate Variance Efficiency Variance Spending Variance A.$ 1500 U $2700 F ? B.$ 1250 F ? $2000 U C.$ 1750 F ? $3300 F D. ? $ 1250 U $4000 U E. ? $ 1850 F $ 2700 F.$1400 U $1900 U ?
Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U 1. Cost price variance = 2. Cost volume variance= 3. Total gross profit variance=
Compute the following: Total gross profit variance Sales mix variance Final sales volume variance Format: 11,111 F or 11,111 U
Compute for the following: Total gross profit variance = Price variance = Price-Quantity variance = Cost variance = Cost-Quantity variance = Format: 11,111 F or 11,111 U
For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Case A B C D E F Direct Labor Rate Direct Labor Efficiency Direct Labor Spending Variance Variance Variance $ $ SA 1,450 U 1,300 F 1,700 F U U 1,350 U $ $ GA 2,600 F U 1,200 U 1,800 F 1,850 U $ $ $ GA IF 2,100 U 3,200 F 3,900 U 2,650 U U
Refer to Pearce Company Using the three-variance approach, what is the efficiency variance? A. $11,770 F B. $2,200 F C. $7,975 U D. $5,775 U
Compute for the following: Sales price variance Cost price variance Quantity variance Format: 11,111 F or 11,111 U
Problem 13: Jimmy Company manufactures a hand soap. The company employs both skilled and unskilled workers. To produce one 55-gallon drum of soap requires Materials A. and B as well as skilled labor and unskilled labor. The standard and actual material and labor information is presented below: Standard: Material A: 30.25 gallons @ P1.25 per gallon Material B: 24.75 gallons @ P2.00 per gallon Skilled Labor: 4 hours @ P12 per hour Unskilled Labor: 2 hours @ P 7 per hour Actual: Material A: 10,716 gallons purchased and used @ P1.50 per gallon Material B: 17,484 gallons purchased and used @ P1.90 per gallon Skilled labor hours: 1,950 @ P11.90 per hour Unskilled labor hours: 1,300 @ P7.15 per hour During the current month Jimmy Company manufactured 500 55-gallon drums.
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $3 per lb.) Direct labor (3 hrs. @ $14 per hr.) $45 42 During June the company incurred the following actual costs to produce 8,500 units. Direct materials (130,300 lbs. @ $2.80 per lb.) Direct labor (30,500 hrs. @ $14.20 per hr.). $364,840 433,100 AH = Actual Hours %3D SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute…
Looking at the excel worksheet please answers these three fallowing questions: B-1. What is the labor efficiency variance? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the labor efficiency variance ? U c-1. What is the variable overhead efficiency variance? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the variable overhead efficiency variance U c-2. What is the variable overhead rate variance? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the variable overhead rate variance U