FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

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AH = Actual Hours %3D SH = Standard Hours AR = Actual Rate %3D SR = Standard Rate %3D Actual Cost Standard Cost АН AR АН SR SH SR 23,400 $ 15.40 23,400 $ 15.00 63,200 $ 15.00 $ 360,360 $ 351,000 $ 948,000 $ 9,360 $ 597,000 Direct labor rate variance $ 9,360 Unfavorable Direct labor efficiency variance 597,000 Favorable Total direct labor variance Unfavorable
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Transcribed Image Text:AH = Actual Hours %3D SH = Standard Hours AR = Actual Rate %3D SR = Standard Rate %3D Actual Cost Standard Cost АН AR АН SR SH SR 23,400 $ 15.40 23,400 $ 15.00 63,200 $ 15.00 $ 360,360 $ 351,000 $ 948,000 $ 9,360 $ 597,000 Direct labor rate variance $ 9,360 Unfavorable Direct labor efficiency variance 597,000 Favorable Total direct labor variance Unfavorable
A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours %3D %3D AR = Actual Rate %3D SR = Standard Rate
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Transcribed Image Text:A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours %3D %3D AR = Actual Rate %3D SR = Standard Rate
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