FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Direct labor variances

Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,100 units used 61,100 hours at an hourly rate of $19.95 per hour.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance $  
b. Direct labor time variance $  
c. Direct labor cost variance
Direct labor variances
The following data is provided for Bellingham Company:
DATA
Standard direct labor hours per unit
Standard hourly rate
Units produced
Actual labor hours used
Actual hourly rate
$21.00
15,100
61,100
$19.95
Using formulas and cell references, perform the required analysis, and input your answers into the
green cells in the Amount column. Select the corresponding type of variance in the dropdowns in
cells D15:D17. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate
fields in CNOWV2 for grading.
Amount
Formulas
5 a. Direct labor rate variance
b. Direct labor time variance
7 C. Direct labor cost variance
expand button
Transcribed Image Text:Direct labor variances The following data is provided for Bellingham Company: DATA Standard direct labor hours per unit Standard hourly rate Units produced Actual labor hours used Actual hourly rate $21.00 15,100 61,100 $19.95 Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for grading. Amount Formulas 5 a. Direct labor rate variance b. Direct labor time variance 7 C. Direct labor cost variance
Direct labor variances
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,100 units used 61,100
hours at an hourly rate of $19.95 per hour.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
X.
Open spreadsheet,
What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative
number using a mihus sign and an unfavorable variance as a positive number.
a. Direct labor rate variance
b. Direct labor time variance
c. Direct labor cost variance
$4
%24
%24
%24
expand button
Transcribed Image Text:Direct labor variances Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,100 units used 61,100 hours at an hourly rate of $19.95 per hour. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X. Open spreadsheet, What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a mihus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance $4 %24 %24 %24
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