Question
In: Accounting
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:
Direct material of 4.00 yards at $5.00 per yard
Direct labor of 3.00 hours at $19.00 per hour
Overhead applied per sleeping bag at $18
In the month of April, the company actually produced 5,100 sleeping bags using 26,800 yards of material at a cost of $5.50 per yard. The labor used was 12,250 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200. Determine the labor quantity variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.
Solutions
Expert Solution
| labor quantity variance is $57,950F | ||||||
| Standard | Actual | |||||
| Particulars | Hours | Rate | amount | Hours | Rate | amount |
| Labour | 15,300.00 | 19.0000 | 290,700.00 | 12,250.00 | 20.50 | 251,125.00 |
| Actual output | 5,100.00 | |||||
| Labour hrs reqd (5100*3) | 15,300.00 | |||||
| DLQV = (SH-AH)SR | ||||||
| DLQV = (15,300 - 12,250)19 | ||||||
| DLQV = 57,950 F | ||||||
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