The following data are given for Taylor Company: Budgeted production Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs Overhead is applied based on standard labor hours. 1,000 units 980 units Favorable Unfavorable $2.00 12 11,800 $23,000 $14.00 per hour 4.5 4,560 $62,928 $27,000 $3.50 per standard labor hour $15,500 Compute the direct labor rate and time variances for Taylor Company. Enter favorable variances as negative numbers. Direct labor rate variance Direct labor time variance

The following data are given for Taylor Company: Budgeted production Actual production Materials: Standard price per pound Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs Overhead is applied based on standard labor hours. 1,000 units 980 units Favorable Unfavorable $2.00 12 11,800 $23,000 $14.00 per hour 4.5 4,560 $62,928 $27,000 $3.50 per standard labor hour $15,500 Compute the direct labor rate and time variances for Taylor Company. Enter favorable variances as negative numbers. Direct labor rate variance Direct labor time variance

Name: The following data are given for Taylor Company:Budgeted productionAc
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Description: The following data are given for Taylor Company:Budgeted productionActual productionMaterials:Standard price per poundStandard pounds per completed unitActual pounds purchased and used in productionActual price paid for materialsLabor:Standard hourl

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 12E: Activity cost pools, activity rates, and product costs using activity-based costing Caldwell Home...

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