The following data relate to labor cost for production of 4,000 cellular telephones: Type Actual: Standard: Hours and Rate 2,690 hrs. at $14.70 2,650 hrs. at $15.00 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. b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a - labor rate than planned. The lower level of efficient performance. Thus, the actual time required experience or training may have resulted in was -----than standard. NB: Based upon your answer to (a) use Less, More or Lower to fill in the blank in (b)

The following data relate to labor cost for production of 4,000 cellular telephones: Type Actual: Standard: Hours and Rate 2,690 hrs. at $14.70 2,650 hrs. at $15.00 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. b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a - labor rate than planned. The lower level of efficient performance. Thus, the actual time required experience or training may have resulted in was -----than standard. NB: Based upon your answer to (a) use Less, More or Lower to fill in the blank in (b)

Name: Direct Labor VariancesThe following data relate to labor cost for pro
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Description: Direct Labor VariancesThe following data relate to labor cost for production of 4,000 cellular telephones:TypeActual:Standard:Hours and Rate2,690 hrs. at $14.702,650 hrs. at $15.00a. Determine the direct labor rate variance, direct labor time varian

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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