Question
In: Accounting
Direct Labor Variances The following data relate to labor cost for production of 5,700 cellular telephones:...
Direct Labor Variances
The following data relate to labor cost for production of 5,700 cellular telephones:
| Actual: | 3,870 hrs. at $15.6 | |
| Standard: | 3,810 hrs. at $15.9 |
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.
| Rate variance | $ | Favorable |
| Time variance | $ | Unfavorable |
| Total direct labor cost variance | $ | Favorable |
Solutions
Expert Solution
- Requirements
>Rate Variance = $ - 1161
Favourable [enter as negative]
>Time Variance = $ 954 Unfavourable
> Direct labor cost variance = $ - 207 Favourable [enter as
negative]
- Calculations
|
Labor Rate Variance |
||||||
|
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
|
( |
$ 15.90 |
- |
$ 15.60 |
) |
x |
3870 |
|
1161 |
||||||
|
Variance |
$ 1,161.00 |
Favourable-F |
||||
|
Labour time Variance |
||||||
|
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
|
( |
3810 |
- |
3870 |
) |
x |
$ 15.90 |
|
-954 |
||||||
|
Variance |
$ 954.00 |
Unfavourable-U |
||||
|
Labor Cost Variance |
||||||
|
( |
Standard Cost = 3810 x 15.9 |
- |
Actual Cost = 3870 x 15.6 |
) |
||
|
( |
$ 60,579.00 |
- |
$ 60,372.00 |
) |
||
|
207 |
||||||
|
Variance |
$ 207.00 |
Favourable-F |
||||
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