FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Standard labor hours per unit of 4.6 hours output Standard labor rate $20.40 per hours The following data pertain to operations concerning the product for the last month: Actual hours worked 7,200 hours 1,500 units Actual total labor cost $147,600 Actual output Required: a. What is the labor rate variance for the month? (Input the amount as a positive va Leave no cells blank - be certain to enter "O" wherever required. Indicate the ef of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" no effect (i.e., zero variance.) Labor rate variancearrow_forward13. The following data relate to direct labor costs for the current period: Standard costs 3,200 hours at $8.25 3,800 hours at $8.75 Actual costs What is the direct labor time variance? a. $4,950 favorable b. $4,950 unfavorable c. $1,900 unfavorable d. $1.900 favorablearrow_forwardThe following data relate to direct labor costs for the current period: 7,200 hours at $11.20 6,300 hours at $10.50 Standard costs Actual costs The direct labor time variance is Oa. $10,080 unfavorable b. $9,450 favorable Oc. $9,450 unfavorable Od. $10,080 favorablearrow_forward
- Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual direct labor-hours Direct labor efficiency variance-favorable Direct labor rate variance-favorable Total direct labor payroll What was Gantry's standard direct labor rate? 40,000 39,000 $ 3,400 $ 7,800 $ 124,800 Multiple Cholce $3.20 $3.04 $3.40 $7.80arrow_forwardThe following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 9.1 hours $ 17.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 10,100 hours $ 169,680 What is the labor rate variance for the month? 1,000 unitsarrow_forwardStandard labor-hours per unit of output 8.1 hours Standard labor rate S 14.40 per hour. The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output What is the labor rate variance for the month? O $450 F O $3,915 F $3,915 U O $450 U 8,700 hours $ 129,195 1,000 unitsarrow_forward
- please answer do not image formatarrow_forwardThe following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.80 Actual costs 6,400 hours at $10.00 The direct labor time variance is Oa. $10,620 unfavorable Ob. $9,000 favorable C. $9,000 unfavorable Od. $10,620 favorablearrow_forwardWilliams Corporation reports the following direct labor information for November: Standard rate $4 Actual rate paid Standard hours allowed for actual production Labor efficiency variance 33.00 per hour 33.80 per hour 44, 600 hours $201, 300 F Required: Based on these data, what was the number of actual hours worked and what was the labor price variance? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Actual hours worked Labor price variance hoursarrow_forward
- The following labor standards have been established for a particular product Standard labor hours per unit of output Standard labor rate 4.3 hours $ 20.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 6,900 hours $ 139,380 1,500 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le zero variance). Input all amounts as positive values. a. Labor rate variance. b. Labor efficiency variancearrow_forwardNonearrow_forwardThe following data relate to direct labor costs for the current period: Standard costs 6,900 hours at $11.30 Actual costs 6,400 hours at $10.00 The direct labor rate variance isarrow_forward
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