Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Berkley model pedestal. The standards follow, along with the cost accountant's determination of current labor pay rates: Worktype 1 Worktype 2 Worktype 3 Required: 0.18 hour @ $12.39 per hour 0.30 hour @ $10.80 per hour 0.65 hour @ $19.68 per hour a. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. b. Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Complete this question by entering your answers in the tabs below. Required A Required B Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. Direct labor cost

Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Berkley model pedestal. The standards follow, along with the cost accountant's determination of current labor pay rates: Worktype 1 Worktype 2 Worktype 3 Required: 0.18 hour @ $12.39 per hour 0.30 hour @ $10.80 per hour 0.65 hour @ $19.68 per hour a. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. b. Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Complete this question by entering your answers in the tabs below. Required A Required B Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. Direct labor cost

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the information below on Direct Labor costs to answer question#33. GIVEN: Management at the Best Ceramic Vase Company wishes to analyze its Direct Labor costs. During September, company management noted that it used 3,400 hours of Direct Labor at a cost of $76,500 to produce 2,300 vases. The company set the following Direct Labor standard. 1.5 hours of Direct Labor per unit at an hourly wage rate of $22.00 33) Determine the actual wage rate (using the Given information above). A) $15.00 B) $22.00 C) $22.18 D) $22.50
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XYZ Company's accountant is estimating next period's total overhead costs (Y). She performed three regression analyses, the first is based on direct labor hours (DLH), the second is based on machine hours (Mhr), and the third is based on quantity produced (Q). The results were: [Y=$95,000 + $9×DLH; R-square = 0.85); [Y= $120,000 + $5xMhr; R-square = 0.15]; [Y=190,000+2Q; R-square=0.45]. How much of the variations on the overhead costs is explained by the direct labor hours (DLH)? Select one: O a. 55% O b. None of the answers given O c. 15% O d. 85% O e. 45%
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Please help me with D, E, and F. Thank you!