Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Info Regarding Direct Labor Costs Data Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor rate variance. Group of answer choices -$5,040 favorable $5,040 unfavorable -$11,400 favorable $11,400 unfavorable
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Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs:
Info Regarding Direct Labor CostsData | Rate | Hour |
---|---|---|
Standard | $15.60 | 0.80 |
Actual | $17.00 | 0.60 |
Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units.
Determine the direct labor rate variance.
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- Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Information for Direct Labor Costs Data Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor time variance. Group of answer choices -$18,720 favorable $13,680 unfavorable -$13,680 favorable $18,720 unfavorableNeighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Direct Labor Costs DL Cost Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor flexible budget cost variance. Group of answer choices $13,680 unfavorable -$13,680 favorable $18,720 unfavorable -$18,720 favorableUse the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All materials used were bought during the current period. A. Compute the material and labor variances. B. comment on the results and possible causes of the variances.
- Method of Least Squares, Predicting Cost for Different Time Periods from the One Used to Develop a Cost Formula Refer to the information for Farnsworth Company on the previous page. However, assume that Tracy has used the method of least squares on the receiving data and has gotten the following results: Required: 1. Using the results from the method of least squares, prepare a cost formula for the receiving activity. 2. Using the formula from Requirement 1, what is the predicted cost of receiving for a month in which 1,450 receiving orders are processed? (Note: Round your answer to the nearest dollar.) 3. Prepare a cost formula for the receiving activity for a quarter. Based on this formula, what is the predicted cost of receiving for a quarter in which 4,650 receiving orders are anticipated? Prepare a cost formula for the receiving activity for a year. Based on this formula, what is the predicted cost of receiving for a year in which 18,000 receiving orders are anticipated?Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. A. Compute the material and labor variances. B. Comment on the results and possible causes of the variances.Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries made 3,000 ladders in July and used 8,800 pounds of material to make these units. Smith Industries bought 15,500 pounds of material in the current period. There was a $250 unfavorable direct materials price variance. A. How much in total did Sitka pay for the 15,500 pounds? B. What is the direct materials quantity variance? C. What is the total direct material cost variance? D. What ii 9,500 pounds were used to make these ladders, what would be the direct materials quantity variance? E. It there was a $340 favorable direct materials price variance, how much did Sitka pay for the 15,500 pounds of material?
- XYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; SH x SR = $85,000. Compute the direct labor cost variance. Multiple choice question. $1,000 U $1,000 F $2,000 F $2,000 UAGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor rate variance. Group of answer choices $7,000 unfavorable $28,000 unfavorable -$28,000 favorable -$7,000 favorableManey Televisions utilizes a traditional overhead allocation method, and has determined that overhead costs are driven by direct labor hours. Relevant cost information is provided below. Total estimated overhead costs $650,000 Total estimated DL hours 130,000 Actual overhead costs $640,300 Actual DL hours 127,500 The unadjusted cost of goods sold balance at the end of the year is $56,000. What is the overhead variance? Please provide your answer as a positive number rounded to the nearest whole dollar.
- AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor cost variance. Group of answer choices -$7,000 favorable -$28,000 favorable $7,000 unfavorable $28,000 unfavorableExample-2Variable manufacturing overhead variance analysis. The Sourdough Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. Variable manufacturing overhead is allocated to products on the basis of standard direct manufacturing labor-hours. Following is some budget data for the Sourdough Bread Company:Direct manufacturing labor use 0.02 hours per baguetteVariable manufacturing overhead $10.00 per direct manufacturing labor-hourThe Sourdough Bread Company provides the following additional data for the year ended December 31, 2017:Required:Planned (budgeted) outputActual productionDirect manufacturing laborActual variable manufacturing overhead3,100,000 baguettes 2,600,000 baguettes 46,800 hours$617,7601. What is the denominator level used for allocating variable manufacturing overhead? (That is, for how many direct manufacturing labor-hours is Sourdough Bread budgeting?)2.…Use the following data for questions #5-7 Japan Company produces furniture and has the following data related to its direct labor costs: standard costs are 17,325 hours at an hourly rate of $15.00 per hour and actual costs are 19,250 hours at an hourly rate of $14.90 per hour. 6. What is the direct labor time variance? a. $28,875 Favorable b. $28,875 Unfavorable c. $28,683 Favorable d. $28,683 Unfavorable