Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor used 4,140 hrs. Actual rate for direct labor $18.30 per hr. Bicycles completed in July 800 bicycles Standard direct labor per bicycle 5.8 hrs. Standard rate for direct labor $17.80 per hr. a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance $fill in the blank 1 Direct labor time variance fill in the blank 3 Total direct labor cost variance $fill in the blank 5 b. How much direct labor should be debited to Work in Process? $fill in the blank 7

The following labor standards have been established for a particular product: Standard labor- 8.4 hours per unit of output Standard labor rate $ Actual hours worked Actual total labor cost 15.70 The following data pertain to operations concerning the product for the last month: $336 F $2,520 F $2,520 U $336 U hours per hour $ 162,330 1,400 10,500 hours Actual output What is the labor rate variance for the month? units

The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance

Chulak Company uses a standard costing system. The following data are available for the month: Actual quantity of direct materials purchased 25,000 pounds Standard price of direct materials $2 per pound Material price variance $2,500 unfavorable The actual price per pound of direct materials purchased during the month is

Williams Corporation reports the following direct labor information for November: Standard rate $ 34.00 per hour Actual rate paid $ 34.80 per hour Standard hours allowed for actual production   44,700 hours Labor efficiency variance $ 221,000 F   Required: Based on these data, what was the number of actual hours worked and what was the labor price variance?  Acutal Hours Worked    Hours  Labor Price Variance    F or U

The Fellowes Company has developed standards for direct labor. During June, 75 units were scheduled and 100 were produced. Data related to direct labor are:   Standard hours allowed 4 hours per unit Standard wages allowed $ 5.00 per hour Actual direct labor 410 hours (total cost $2,009)   What is the direct labor rate variance for June?

The following labor standards have been established for a particular product:     Standard labor-hours per unit of output   8.6 hours Standard labor rate $ 15.50 per hour     The following data pertain to operations concerning the product for the last month:     Actual hours worked   8,500 hours Actual total labor cost $ 129,200   Actual output   840 units     What is the labor rate variance for the month?   Multiple Choice   $17,228 F   $19,395 U   $17,228 U   $2,550 F

The following data relates to Titan Electric and its Light Bulb Division. Light Bulb Division sales Light Bulb Division operating income Light Bulb Division total assets Light Bulb Division current liabilities Corporate target rate of return Corporate weighted average cost of capital Corporate effective tax rate What is the Light Bulb Division's sales margin? OA. 180% OB. 18% OC. 13.5% OD. 10% $7,200,000 $720,000 $4,000,000 $540,000 12% 5% 25%

Flandro Company uses a standard cost system and sets predetermined overhead rates on the basis of directlabor-hours. The following data are taken from the company’s budget for the current year:Denominator activity (direct labor-hours) ............... 5,000Variable manufacturing overhead cost .................. $25,000Fixed manufacturing overhead cost ...................... $59,000The standard cost card for the company’s only product is given below:Direct materials, 3 yards at $4.40 per yard ........................... $13.20Direct labor, 1 hour at $12 per hour ...................................... 12.00Manufacturing overhead, 140% of direct labor cost ............. 16.80Standard cost per unit .......................................................... $42.00During the year, the company produced 6,000 units of product and incurred the following costs:Materials purchased, 24,000 yards at $4.80 per yard ...... $115,200Materials used in production (in yards) .............................…

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