23. Consider the following information: Actual direct labor hours Standard direct labor hours Total actual direct labor cost Direct-labor efficiency variance The direct-labor rate variance is: 34,000 34,600 $159,800 $2,460F

23. Consider the following information: Actual direct labor hours Standard direct labor hours Total actual direct labor cost Direct-labor efficiency variance The direct-labor rate variance is: 34,000 34,600 $159,800 $2,460F

Name: 23. Consider the following information:Actual direct labor hoursStand
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: 23. Consider the following information:Actual direct labor hoursStandard direct labor hoursTotal actual direct labor costDirect-labor efficiency varianceThe direct-labor rate variance is:34,00034,600$159,800$2,460F

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

Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Calculate the labor efficiency variance: Labor costs: Budgeted costs (per unit) 2.25 hours at € 16.40 per hour based on 350 units. Actual: Units: 310 Hours: 620 Labor cost: € 10, 540 a. €1, 435 favourable b. € 1,271 favourable c. € 899 favourable d. €1, 435 adverse
Direct Labor Variances The following data relate to labor cost for production of 4,000 cellular telephones: Type Actual: Standard: Hours and Rate 2,690 hrs. at $14.70 2,650 hrs. at $15.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a labor rate than planned. The lower level of efficient performance. Thus, the actual time required experience or training may have resulted in than standard. NB: Based upon your answer to (a) use Less, More or Lower to fill in the blank in (b) was
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 actual direct labor rate? re to search Multiple Choice $7.80 $3.40 II
Direct Labor Variances The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $fill in the blank 1 Time variance $fill in the blank 3 Total direct labor cost variance $fill in the blank 5 b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.
Direct Labor Variances The following data relate to labor cost for production of 5,200 cellular telephones: Actual: 3,480 hrs. at $15.00 Standard: 3,430 hrs. at $15.20 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Total direct labor cost variance $ $ b. The employees may have been less-experienced or poorly trained, thereby resulting in a or training may have resulted in efficient performance. Thus, the actual time required was labor rate than planned. The lower level of experience than standard.
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 actual direct labor rate? 35,000 34,000 $ 4,100 $ 6,800 $ 132,600 Multiple Choice $4.10 $3.70 $3.90 $6.80
If the materials price variance is $3,600 F and the materials quantity and labor variances are each $2,700 U, what is the total materials variance?
Direct Labor Variances The following data relate to labor cost for production of 6,600 cellulár telephones: Actual: 4,450 hrs. at $13.70 Standard: 4,380 hrs. at $13.90 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower training may have resulted in less Feedback Favorable Unfavorable Unfavorable ✓labor rate than planned. The lower level of experience or ✓than standard. ✔efficient performance. Thus, the actual time required was more Check My Wor Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit) The labor cost variance is the difference between the actual and standard…
Subject-Acounting
M8(7)
Direct Labor Variances The following data relate to labor cost for production of 4,100 cellular telephones: Actual: 2,750 hrs. at $13.00 Standard: 2,710 hrs. at $13.30 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $ Time variance $ Total direct labor cost variance b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.