For each of the following independent cases, fill in the missing amounts in the table:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfvariance).CaseABCDEF$$$$Direct Labor RateVariance1,750 U1,000 F2,000 F1,650 UDirect Labor Efficiency Direct Labor SpendingVarianceVariance$$$SA$3,200 F1,500 U2,100 F2,150 Ushining$$SS1,500 U3,800 F4,500 U2,950 U

Name: For each of the following independent cases, fill in the missing amou
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Description: For each of the following independent cases, fill in the missing amounts in the table:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfvariance).CaseABCDEF$$$$Direct Labor RateVariance1,750 U1,000 F2,000 F1,650 U

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For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unf variance). Case A B C D E F $ $ $ S Direct Labor Rate Variance 1,750 U 1,000 F 2,000 F 1,650 U Direct Labor Efficiency Direct Labor Spending Variance Variance $ 69 $ 5959 $ 3,200 F 1,500 U 2,100 F 2,150 U $ 655 $ S S 1,500 U 3,800 F 4,500 U 2,950 U 1030000

For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unf variance). Case A B C D E F $ $ $ S Direct Labor Rate Variance 1,750 U 1,000 F 2,000 F 1,650 U Direct Labor Efficiency Direct Labor Spending Variance Variance $ 69 $ 5959 $ 3,200 F 1,500 U 2,100 F 2,150 U $ 655 $ S S 1,500 U 3,800 F 4,500 U 2,950 U 1030000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

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For each of the following independent cases, fill in the missing amounts in the table:
Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unf
variance).
Case
A
B
C
D
E
F
$
$
$
$
Direct Labor Rate
Variance
1,750 U
1,000 F
2,000 F
1,650 U
Direct Labor Efficiency Direct Labor Spending
Variance
Variance
$
$
$
SA
$
3,200 F
1,500 U
2,100 F
2,150 U
shining
$
$
S
S
1,500 U
3,800 F
4,500 U
2,950 U

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Step 1: Introduce to direct labor variance

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Step 3: Working for direct labor efficiency variance for case B

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Step 4: Working for direct labor efficiency variance for case C

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Step 5: Working for direct labor rate variance for Case D

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Step 6: Working for direct labor rate variance for Case E

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Step 7: Working for direct labor spending variance for case F

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