Direct labor variancesBellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour.16,000 units used 62,200 hours at an hourly rate of $19.55 per hour.This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input youranswers in the questions below.XOpen spreadsheetWhat is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorablevariance as a negative number using a minus sign and an unfavorable variance as a positive number.a. Direct labor rate varianceFavorable vb. Direct labor time varianceUnfavorable vc. Direct labor cost varianceUnfavorable v%24

Formula: Direct Labor Rate Variance= (SR-AR)AT Direct Labor Time Variance= (ST-AT)SR Direct Labor…

What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 5SEB: PREDETERMINED FACTORY OVERHEAD RATE Marston Enterprises calculates a predetermined factory overhead...

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Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
The managerial accountant at Sunny Manufacturing needs to determine how many costs are fixed costs and how many costs are variable costs in the organization. The managerial accountant reported the following information: Use the high-low method to determine the cost equation and use machine hours as the base for a cost driver in the analysis. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Month Machine-Hours Total Cost January 1,800 $21,500 February 2,900 $23,200 March 1,000 $19,750 April 2,400 $21,000 May 3,400 $23,900
Cost Flow Relationships The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: $1,150,100 310,500 103,500 42,600 19,600 586,600 Total manufacturing costs for the period 1,269,700 Materials inventory, end of period 42,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased X Open spreadsheet Using the above information, determine the following amounts: a. Cost of goods sold 839,600 501,400 264,400 X b. Direct materials cost c. Direct labor cost $
need answers for 1,2,3 and 4 4. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how both cost schedules and the income statement will change if the following data change: direct labor is $390,000 and utilities cost $35,000.
The following table presents the activities and activity drivers that LampPlus uses in manufacturing Product 1 and Product 2. Complete the table: Activity Design Preparation Machining Finishing Inspection Packaging Shipping Cost Activity Driver $ 39,060 Design time $ 67,650 Labor hours 105,200 Machine hours $ Batches Units Orders $ 12,720 Packages Driver Usage Prod. 1 840 3,130 209 76 Prod. 2 1,330 hours hours 300 56 Activity Rate $ $ $ $ /hour /hour 20 /hour 50 /batch 17 /unit 302 /order /package Activity Cost:Prod. 1 $ $ $ $ 34,430 31,200 Activity Cost:Prod. 2 9,690 $ 12,986 $ 19,720 3,600
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs $ 4,580 2 480 3,880 4,280 4,880 3,980 4,180 3 880 1,280 1,680 2,080 2,480 2,880 3,280 3,680 4 8,680 16,080 4,880 8 9 10 11,020 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = per unit
The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = +xBillable Hours X Monthly Overhead Costs and Billable Hours Data (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Overhead Costs Billable Hours 0 $315,000 3,000 $365,000 4,000 $395,000 5,000 $447,000 6,000 $530,000 7,000 $550,000 8,000
This section has a nine-part comprehensive problem with multiple questions to address. Download the Chapter 9 Comprehensive Problem Template below to complete all parts. You will need your Bergevin and MacQueen book for reference. Redlands Inc. reported standard and actual costs for the product that it manufactures: Item Standard Actual Direct material price $3 per lb. $2 per lb. Direct materials quantity 2 lbs. 4 lbs. Direct labor price $5 $7 Direct labor quantity 3 hours 2 hours Factory overhead cost $2 per machine hour ---- Machine hours per unit 2 machine hours 3 machine hours Number of finished products made 10 12 Number of finished products sold 10 11 Sales per unit $40 $40 * Redlands used machine hours to apply factory overhead costs. The company incurred $90 actual total factory overhead costs to make the 12 products. 1. Standard product cost Item Price Quantity Total Direct materials Direct labor Factory overhead Standard…
Data concerning three of Kilmon Corporation’s activity cost pools appear below: Activity Cost Pools Estimated Overhead Cost Expected Activity Assembling products $ 65,540 4,520 assembly hours Designing products $ 578,112 3,011 product design hours Setting up batches $ 41,820 820 batch set-ups Required: Compute the activity rates for each of the three cost pools. (Round your answers to 2 decimal places.) Activities Activity rate Assembly products Designing products Setting up batches
Would you like to set Microsoft Edge as your default browser? Set as default of 5 Q ACtIvity 2: The following data are from the costing records of ABC Ltd. in respect of Job No. 14: Materials used BD. 2500 Direct Wages: Department A - 30 hours at BD. 6 per hour Department B - 50 hours at BD. 5 per hour Department C- 20 hours at BD. 2 per hour Overhead for these three departments were estimated as follows: Variable overheads: Department A - BD. 10000 for 2000 Direct labour hours to Department B - BD. 60000 for 3000 Direct labour hours emai Department c - BD. 80000 for 2000 Direct labour hours Fixed overheads: BD7 for 100 working hours from You are required to calculate the total cost of the above Job No.14 using job-order costing system a qu as well the price for the job to give a profit of 20% of sales. bne-tim Darticulare 888-888-8888 Ta
meducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F %252Fne S... Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor…
4. Change the estimated total amount of the allocation base back to 83,000 machine-hours, so that the data area of you workshe looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $637,900 to $633,100. Th data area of your worksheet should now look like this: A в 1 Chapter 3: Applying Excel 2. Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 4 Machine-hours 655,700 83,000 machine-hours 7 $ 633,100 78,000 machine-hours 8 (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead 3. 5. 6.