FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Dengerarrow_forwardThe production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year:arrow_forwardQuestion Content Area Power Co.'s labor information for June is as follows: Direct labor hours worked 65,400 Standard labor hours for units manufactured 68,000 Unfavorable direct labor rate variance $19,620 Total payroll for labor $791,340 A. What was the actual labor rate per hour? Round your answer to two decimal places. Actual labor rate $fill in the blank 1 per hour B. What was the standard labor rate per hour? Round your answer to two decimal places. Standard labor rate $fill in the blank 2 per hour C. What was the total standard labor cost for units produced in June? Total standard labor cost $fill in the blank 3 D. What was the direct labor time variance for June? Direct labor rate variance $fill in the blank 4arrow_forward
- Current Attempt in Progress In October, Carla Vista Company reports 20,000 actual direct labor hours, and it incurs $255,000 of manufacturing overhead costs. Standard hours allowed for the work done is 25,500 hours. The predetermined overhead rate is $10.25 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $8.11 variable per direct labor hour and $53,500 fixed. Compute the overhead volume variance. Normal capacity was 25,000 direct labor hours. Overhead Volume Variance LAarrow_forwardRasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per unit. The expected production activity for the first four months of the year are as follows. January February March April Estimated production in units 6,000 7,000 3,000 4,000 Required Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. Allocate overhead costs to each month using the overhead rate computed in Requirement a. Calculate the total cost per unit for each month using the overhead allocated in Requirement b.arrow_forwardSunland Company manufactures patio umbrellas. The direct labor standard for each umbrella is 1.25 direct labor hours at a standard rate of $12 per hour. During June, Sunland used 37900 direct labor hours to produce 31900 umbrellas. Sunland's direct labor payroll totaled $430300. What is Sunland's direct labor rate variance for November?arrow_forward
- Vinubhaiarrow_forwardIn October, vole Company reports 20,700 actual direct labor hours, and it incurs $171,200 of manufacturing overhead costs. Standard hours allowed for the work done is 21,400 hours. The predetermined overhead rate is $8.25 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $6.25 variable per direct labor hour and $50,000 fixed. Compute the overhead volume variance. Normal capacity was 25,000 direct labor hours. Overhead Volume Variancearrow_forwardDengerarrow_forward
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