Example: Forster Company gathered the following information on overhead costs for seven months: Actual Month Overhead Variance June $87,500 July 90,200 August 100,500 September 81,300 October 89,400 November 95,000 December 93,600 Standard cost of overhead in each month is $90,000. The allowable deviation from standard is 5%. Fill in the variance amounts for each mont in the above table.

Jackson Manufacturing Corporation has established the following labor standards for a particular product: Standard labor-hours per unit of output 5.6 hours Standard labor rate $12.40 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 1,010 hours Actual total labor cost $12,928 Actual output 202 units What is the labor rate variance for the month? Your instructor has provided the following variance formulas for you: Direct Labor Variances AH(AR - SR) SR(AH - SH) Labor Rate Variance: Labor Efficiency Variance:

The following standards have been set for each test performed: Standard Hours Standard Price Direct materials Direct labor or Quantity 3 pounds 0.4 hours or Rate S0.75 per pound S12 per hour During March, Your Company performed 2,000 tests. • 840 actual direct labor-hours were worked at a cost of $8,610. The labor rate (P) variance for March is: Enter a favorable variance as a positive number; an unfavorable variance as a negative number. ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DESCRIPTIONS.

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Refer to Pearce Company Using the three-variance approach, what is the efficiency variance? A. $11,770 F B. $2,200 F C. $7,975 U D. $5,775 U

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Nisqually Corporation has established the following labor standards for a particular product: Standard labor-hours per unit of output 8.3 hours Standard labor rate $12.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,100 hours A Actual total labor cost $71,370 Actual output 900 units What is the labor efficiency variance for the month? Your instructor has provided the following variance formulas for you: Direct Labor Variances AH(AR - SR) SR(AH - SH) Labor Rate Variance: Labor Efficiency Variance:

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