Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 63,000 Standard direct labor hours allowed (SQ) 70,000 Total payroll for direct labor $630,000 Direct labor efficiency variance $ 61,600

Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 63,000 Standard direct labor hours allowed (SQ) 70,000 Total payroll for direct labor $630,000 Direct labor efficiency variance $ 61,600

Name: Lucky Company's direct labor information for the month of February is
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Description: Lucky Company's direct labor information for the month of February is as follows:Actual direct labor hours worked (AQ) 63,000Standard direct labor hours allowed (SQ) 70,000Total payroll for direct labor$ 630,000Direct labor efficiency variance$ 61,6

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...

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A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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?
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 67,500 Standard direct labor hours allowed (SQ) 72,000 Total payroll for direct labor $ 1,080,000 Direct labor efficiency variance $ 66,600 The standard direct labor rate per hour (SP) for February (rounded to two decimal places) was: Multiple Choice $14.80. $16.00. $18.20. $17.20. $15.00.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 72,500 Standard direct labor hours allowed (SQ) 75,000 Total payroll for direct labor $ 870,000 Direct labor efficiency variance $ 27,500 The actual direct labor rate per hour (AP) for February was: Multiple Choice $11.00. $11.60. $12.00. $13.00. $13.60.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 61,500 Standard direct labor hours allowed (SQ) 63,000 Total payroll for direct labor $ 774,900 Direct labor efficiency variance $ 18,000 The standard direct labor rate per hour (SP) for February was: Multiple Choice $12.00. $12.30. $12.60. $13.20. $13.50.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 70,000 Standard direct labor hours allowed (SQ) 75,000 Total payroll for direct labor $ 1,050,000 Direct labor efficiency variance $ 69,000 The direct labor rate variance for February was: Multiple Choice $105,000 unfavorable. $90,000 unfavorable. $98,000 unfavorable. $84,000 unfavorable. $168,000 unfavorable.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) Standard direct labor hours allowed (SQ) 60,000 Total payroli for direct labor Direct labor efficiency variance 64,000 $ 960,000 $ 58,800 The actual direct labor rate per hour (AP) for February was: Multiple Choice O $14.70. $15.00. $16.00. O $17.30. $17.60.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) Standard direct labor hours allowed (SQ) Total payroll for direct labor Direct labor efficiency variance The direct labor rate variance for February was: 63,000 70,000 $ 630,000 $ 61,600
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