Marigold Corp. produces a product requiring 4 direct labor hours at $15 per hour. During January, 3200 products are produced using 13100 direct labor hours. Marigold's actual payroll for direct labor during January was $194280. What is the labor quantity variance for the month? $4500 F $2280 U $2220 F O $4500 U

Marigold Corp. produces a product requiring 4 direct labor hours at $15 per hour. During January, 3200 products are produced using 13100 direct labor hours. Marigold's actual payroll for direct labor during January was $194280. What is the labor quantity variance for the month? $4500 F $2280 U $2220 F O $4500 U

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Description: Marigold Corp. produces a product requiring 4 direct labor hours at $15 per hour. During January, 3200 products are produced using13100 direct labor hours. Marigold's actual payroll for direct labor during January was $194280. What is the labor quan

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?
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
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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?
Your Company's cost formula for its wages and salaries is $2,900 per month plus $475 per unit sold. For the month of May, the company planned for activity of 116 units, but the actual level of activity was 117 units. The actual wages and salaries for the month was $56,270. What is the spending variance for wages and salaries in May? O $1,730 F O $1,730 U O $2,205 F O $2,205 U
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