Given the following information in standard costing: Standard 18,800 hours at $6.80 Actual 18,600 hours at $7.00 What is the direct labor rate variance? Multiple Choice $3,720 Favorable $2,770 Unfavorable $2,770 Favorable $3,720 Unfavorable
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Given the following information in
| Standard | 18,800 hours at $6.80 |
| Actual | 18,600 hours at $7.00 |
What is the direct labor rate variance?
-
$3,720 Favorable
-
$2,770 Unfavorable
-
$2,770 Favorable
-
$3,720 Unfavorable
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- A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced ! AH = Actual Hours SH= Standard Hours AR= Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Q F1 Actual Cost @ 2 W F2 # 3 E 80 F3 $ $ 4 0 Ơ F4 R $ % 5 0 0 * DII 8 F8 Standard Cost ( 9 F9 ) U I O F1Find the missing values and label F/U Direct Labor Direct Labor Direct Labor Rate Variance Efficiency Variance Spending Variance A.$ 1500 U $2700 F ? B.$ 1250 F ? $2000 U C.$ 1750 F ? $3300 F D. ? $ 1250 U $4000 U E. ? $ 1850 F $ 2700 F.$1400 U $1900 U ?Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual direct labor-hours Direct labor efficiency variance-favorable Direct labor rate variance-favorable Total direct labor payroll What was Gantry's actual direct labor rate? re to search Multiple Choice $7.80 $3.40 II
- Given the following information, calculate the purchasing department's efficiency variance. Standard number of transaction per day Standard labor cost per day Actual number of days for processing transactions Actual number of transactions processed Actual labor cost per day Multiple choice question. $2,400 favorable $4,400 favorable $4,400 unfavorable $2,400 unfavorable 20 $200 120 1,960 $180Unit product cost under variable and absorption costing approach, respectively, must be: Present it as V-50 and A-53 Contribution margin for the month under the variable costing approach is: Gross margin for the month under the absorption costing approach is:A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. Standard hours per unit of output 3.00 DLH3 Standard variable overhead rate $10.75 per DLH The following data pertain to operations for the last month: Actual direct labor-hours 9,600 DLHS Actual total variable manufacturing overhead cost Actual output $95,760 2,500 units What is the variable overhead efficiency variance for the month?
- Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours per Unit of Output Inputs Standard Price or Rate Direct materials $ 9.40 per ounce $ 18.00 per hour $ 5.30 per hour 7.6 ounces Direct labor 0.10 hours Variable manufacturing overhead 0.10 hours The company has reported the following actual results for the product for July: Actual output 7,600 units Raw materials purchased 63,000 ounces Actual cost of raw materials purchased $ 541,800 Raw materials used in production 57,750 ounces Actual direct labor-hours 820 hours $ 16,072 $ 4,592 Actual direct labor cost Actual variable overhead cost The labor efficiency variance for the month is closest to:What is the Total period cost for April under variable costing?A. P 55,200 B. P 82,500 C. P 123,900D. P 137,7007. Contribution margin for the month under the variable costing approach is? 8. Gross margin for the month under the absorption costing approach is? 9. Period cost for the month under the absorption costing approach is?
- Using the information provided will this produce a favorable or unfavorable Variable Overhead Efficiency Variance? Percent of capacity Direct labor hours Units of output Variable overhead Fixed overhead Total overhead The standard for hours is 2,000. 100% 2,500 1,000 $7,000 $ 6,000 $13,000Required: 1. Unit product cost under variable and absorption costing approach, respectively, must be? 2. Contribution margin for the month under the variable costing approach is? 3. Gross margin for the month under the absorption costing approach is? 4. Period cost for the month under the variable costing approach is? 5. Period cost for the month under the absorption costing approach is?Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours @ $18.50 per hour) 37 Standard cost per unit $ 101 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs $ 45,000 Indirect materials Indirect labor 180,000 Power 45,000 Maintenance 90,000 costs 360,000 Total var ble ove Fixed overhead costs. 24,000 80,000 Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries. 12,000 79,000 Total fixed overhead costs 195,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds @ $5.10 per pound) $…
