Ellis Company’s labor information for September is as follows: Direct labor hourly rate paid $31.00   Total standard direct labor hours for units produced 10,000.00   Direct labor hours worked 9,850.00   Direct labor rate variance $7,387.50 (favorable) Round your answers to two decimal places. A. Compute the standard direct labor rate per hour. {$fill in the blank }standard rate B. Compute the direct labor time variance. Direct labor time variance {$fill in the blank  }  C. Compute the standard direct labor rate if the direct labor rate variance was $2,462.50 (unfavorable). {$fill in the blank } standard labor rate

2. Record the following transactions on the books of Hope Hospital, which follow FASB (not-for-profit) and AICPA standards. The year is 2024. Note: If no entry is required for a transaction or event, select "No Journal Entry Required" in the first account field. Hope received $51,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be received and expended in 2024. Hope received $104,000 in pledges that indicated the money would be received in 2025. The donors imposed no restrictions other than it could be used for any purpose desired by the board. Hope expended $55,000 for nursing training, using $49,000 of donor-restricted resources received in 2023 for that purpose. On June 15, 2024, Hope was awarded a $66,000 grant for cancer research by the U.S. Department of Agriculture. During 2024, Hope had qualified expenses under the grant totaling $42,300. This is a cost reimbursement grant. Hope received $288,000 in cash. The…

A company has the following information for the month of October. The company applies overhead (OH) costs using standard machine hours as the allocation base. Actual Results Actual variable OH costs Actual fixed OH costs Actual machine hours Actual output Budget (for 1,000 units) Variable OH Fixed OH Budgeted machine hours Q. What $360 Favorable $2,500 $4,700 $1,280 MHS 1,100 units Q. What was the company's VOH efficiency variance for October? Answer. (Click to select) (Click to select) None of the answers are correct $180 Unfavorable Answer. $360 Unfavorable $180 Favorable $2,000 $4,400 1,000 MHS ume variance for October? 4

Lewis Company's standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $12.50 per hour. During August, 42,600 hours of labor are incurred at a cost of $12.65 per hour to produce 13,200 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance (c) $ Labor price variance $ Compute the labor price and quantity variances, assuming the standard is 3.50 hours of direct labor at $12.85 per hour. $ > Labor quantity variance $ <

Williams 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 hours

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The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. 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. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance

A company's product requires 3 direct labor hours per unit at a standard rate of $40 per direct labor hour. During the period, the company made 8,010 units, using 23,825 direct labor hours at an actual cost of $42 per direct labor hour, Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost $ 0 $ 0 0 $ 0 Standard Cost

The following data relate to direct labor costs for the current month : Standard Costs : 6,000 hours @ $ 12.00 per hour Actual Costs : 7,500 hours @ $ 11.60 per hour What is the direct labor rate variance ? $ 2,400 favorable $ 5,800 unfavorable $ 3,000 unfavorable None of the listed choices are correct $ 6,000 favorable

The following labor standards have been established for a particular product: Standard labor - hours per unit of output 7.7 hours Standard labor rate $ 15.35 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 9,800 hours Actual total labor cost $ 148, 960 Actual output 1, 100 units What is the labor rate variance for the month? Multiple Choice $165 F $1,470 F $1,470 U $165 U