Exercise 9-5 (Algo) Direct Labor Variances [LO9-5] SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 3,500 of these meals using 1,710 direct labor-hours. The company paid its direct labor workers a total of $23,940 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard labor-hours allowed 2. Standard labor cost allowed 3. Labor spending variance 4. Labor rate variance 4. Labor efficiency variance

Exercise 9-5 (Algo) Direct Labor Variances [LO9-5] SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 3,500 of these meals using 1,710 direct labor-hours. The company paid its direct labor workers a total of $23,940 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard labor-hours allowed 2. Standard labor cost allowed 3. Labor spending variance 4. Labor rate variance 4. Labor efficiency variance

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Description: i need the answer quickly Exercise 9-5 (Algo) Direct Labor Variances [LO9-5]SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dillsauce with baby new potatoes and sprin

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3MAD: United States Postal Service: Mail sorting time variance One of the operations in the United States...

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ces Mc Graw Hill Exercise 9-5 (Algo) Direct Labor Variances [LO9-5] SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,400 of these meals using 1,700 direct labor-hours. The company paid its direct labor workers a total of $17,000 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $9.40 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 4,400 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 4,400 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.,…
Exercise 9-5 Direct Labor Variances (L09-5] SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,800 of these meals using 2,350 direct labor-hours. The company paid its direct labor workers a total of $23,500 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require O.50 direct labor-hours at a cost of $9.40 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 4,800 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 4,800 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts…
es Exercise 9-5 (Algo) Direct Labor Variances [LO9-5) SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 3,500 of these meals using 950 direct labor-hours. The company paid its direct labor workers a total of $10,450 for this work, or $11.00 per hour. According to the standard cost card for this meal, it should require 0.30 direct labor-hours at a cost of $9.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).…
United States Postal Service: Mail sorting time variance One of the operations in the United States Postal Service is a mechanical mail sorting operation. In this operation, handwritten letter mail is sorted at a rate of 1.5 letters per second. An operator sitting at a keyboard mechanically sorts the letter from a three-digit code. The manager of the mechanical sorting operation wishes to determine the number of temporary employees to hire for December. The manager estimates that there will be an additional 24,192,000 pieces of mail in December, due to the upcoming holiday season. Assume that the sorting operators are temporary employees. The union contract requires that temporary employees be hired for one month at a time. Each temporary employee is hired to work 160 hours in the month. A. How many temporary employees should the manager hire for December? B. If each temporary employee earns a standard 17 per hour, what would be the direct labor time variance if the actual number of additional letters sorted in December was 23,895,000?
Exercise 10-2 (Algo) Direct Labor Variances [LO10-2] SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 3,500 of these meals using 1,710 direct labor-hours. The company paid its direct labor workers a total of $23,940 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as…
Exercise 10-2 Direct Labor Variances (LO10-2) SkyChefs, Inc, prepares in flight meals for a number of major airlines. One of the company's products is griled salmon in dil sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,400 of these meals using 1700 direct labor-hours. The company paid its direct labor workers a total of $17,000 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $9.40 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 4,400 meals? 2. What is the standard labor cost allowed (SH SR) to prepare 4,400 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance?
Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 7,100 hours. Variable costs: Indirect factory wages Power and light Indirect materials $24,140 13,490 10,650 $48,280 Total variable cost Fixed costs: Supervisory salaries $13,060 Depreciation of plant and equipment 33,510 Insurance and property taxes 10,230 Total fixed cost 56,800 Total factory overhead cost $56,800 During October, the department operated at 7,500 standard hours, and the factory overhead costs incurred were indirect factory wages, $25,760; power and light, $13,990; indirect materials, $11,500; supervisory salaries, $13,060; depreciation of plant and equipment, $33,510; and insurance and property taxes, $10,230. Required: Prepare a factory overhead cost variance report for October. To be useful for cost…
Rate and Volume Variances Skylnc provides in-flight meals for a number of major airlines. One of the company's products is stuffed cannelloni with roasted pepper sauce, fresh baby corn, and spring salad. During the most recent week, the company prepared 6,000 of these meals, using 1,150 direct labour- hours. The company paid these direct labour workers a total of $11,500 for this work, or $10 per hour. According to the standard cost card for this meal, it should require 0.20 direct labour-hours at a cost of $9.50 per hour. The standard for each meal is to use one pound of raw material at a standard cost of $6 per pound. During the week, we purchased 10,000 pounds of material at a cost of $58,000. Production used 5,950 pounds during the week. Required: 1 Calculate the direct labour variances. 2. Calculate the direct materials variances.
Janesky Company has been asked by a customer to ship an additional 235 units of their product as a special emergency order. You could do this on overtime during the weekend when labor costs would be time and a half. Sufficient materials are available in-house. Units sold last month 6,271 Direct materials $179,952 Direct labor $294,329 Manufacturing variable overhead $279,062 Selling and administrative costs $395,017 If the policy on such special orders has a markup (over cost) of 18%, what should you charge for the 235 units?
OH variancesThe manager of the Texas Department of Transportation has determined that it typically takes 30 minutes for the department’s employees to register a new car. In Bexar County, the predetermined fixed overhead rate was computed on an estimated 10,000 direct labor hours per month and is $9 per direct labor hour, whereas the predetermined variable overhead rate is $3 per direct labor hour.During July, 18,800 cars were registered in Bexar County, and 9,500 direct labor hours were worked in registering those vehicles. For the month, variable overhead was $27,700 and fixed overhead was $90,800.Note: In answering the following questions, do not use negative signs with your answers. a. Compute overhead variances using a four-variance approach. VOH Spending Variance Actual VOH - Budgeted VOH = VOH Spending Variance - = VOH Efficiency Variance Budgeted VOH - Applied VOH = VOH Efficiency Variance - = FOH Spending…
Direct Laborariances SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company’s products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,000 of these meals using 960 direct labor-hours. The company paid its direct labor workers a total of $19,200 for this work, or $20.00 per hour. According to the standard cost card for this meal, it should require 0.25 direct labor-hours at a cost of $19.75 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 4,000 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 4,000 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance?
Current Attempt in Progress Concord Incasements manufactures protective cases for MP3 players. During November, the company's workers clocked 830 more direct labor hours than the flexible budget amount of 25,620 hours to complete 112,600 cases for the Christmas season. All workers were paid $9.03 per hour, which was $0.47 less than the standard wage rate. Calculate Concord's direct labor efficiency variance. Direct labor efficiency variance $