Question
In: Accounting
Midgley Corporation makes a product whose direct labor standards are 1.1 hours per unit and $12.00...
Midgley Corporation makes a product whose direct labor standards are 1.1 hours per unit and $12.00 per hour. In April, the company produced 5,200 units using 5,360 direct labor-hours. The actual direct labor cost was $61,910. The labor rate variance for April is: rev: 11_01_2016_QC_CS-68333 $2,410 U $2,571 F $2,410 F $2,571 U
Solutions
Expert Solution
Correct answer--- $2,410 F
|
Actual DATA for |
5200 |
Units |
|
|
Quantity (AQ) |
Rate (AR) |
Actual Cost |
|
|
Direct labor |
5360 |
$ 11.55 |
$ 61,910.00 |
|
Standard DATA for |
5200 |
Units |
|
|
Quantity (SQ) |
Rate (SR) |
Standard Cost |
|
|
[A] |
[B] |
[A x B] |
|
|
Direct labor |
( 1.1 hours of direct labor x 5200 Units)=5720 hours of direct labor |
$ 12.00 |
$ 68,640.00 |
|
Labor Rate Variance |
||||||
|
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
|
( |
$ 12.00 |
- |
$ 11.55 |
) |
x |
5360 |
|
2410 |
||||||
|
Variance |
$ 2,410.00 |
Favourable-F |
||||
ekkarill92 answered 1 year agoRelated Solutions
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