20TB MC Qu. 10-71 Thomas Enterprises...Thomas Enterprises purchased 58,300 pounds (cost = $378,950) of direct material to be used in the manufacture ofthe company's sole product. According to the production specifications, each completed unit requires five pounds ofdirect material at a standard cost of $6.80 per pound. Direct materials consumed by the end of the period totaled55,800 pounds in the manufacture of 11,400 finished units.5DintsеВookAn examination of Thomas' payroll records revealed that the company worked 23,100 labor hours (cost = $272,580)during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of$12.40 per hour. Use the information to compute the following variances.PrintReferencesThomas' direct-labor rate variance was:Multiple Choice$13,860 F.< Prev20 of 24Next > Check my$13,860 F.$13,860 U.$3,720 F.$3,720 U.None of the answers is correct.

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Description: 20TB MC Qu. 10-71 Thomas Enterprises...Thomas Enterprises purchased 58,300 pounds (cost = $378,950) of direct material to be used in the manufacture ofthe company's sole product. According to the production specifications, each completed unit requir

Direct Labor rate Variance is the Variance for the difference between Actual rate and Standard Rate…

Answered: Thomas' direct-labor rate variance was:

Business

Accounting

Thomas' direct-labor rate variance was:

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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