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 2 years agoRelated Solutions
6a: Midgley Corporation makes a product whose direct labor standards are 1.9 hours per unit and...
6a:
Midgley Corporation makes a product whose direct labor standards
are 1.9 hours per unit and $20.00 per hour. In April, the company
produced 6,000 units using 10,930 direct labor-hours. The actual
direct labor cost was $209,310.
The labor efficiency variance for April is:
$9,400 U
$9,400 F
$9,319 F
$9,428 U
6b:
Midgley Corporation makes a product whose direct labor standards
are 0.9 hours per unit and $10.00 per hour. In April, the company
produced 5,000 units using 4,260...
The standards for product G78V specify 6.1 direct labor-hours per unit at $14.10 per direct labor-hour....
The standards for product G78V specify 6.1 direct labor-hours
per unit at $14.10 per direct labor-hour. Last month 1,800 units of
product G78V were produced using 11,030 direct labor-hours at a
total direct labor wage cost of $146,220.
Required:
a. What was the labor rate variance for the month?
b. What was the labor efficiency variance for the month?
(Indicate the effect of each variance by selecting "F"
for favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero...
12. The per-unit standards for direct labor are 1.5 direct labor hours at $15 per hour....
12.
The per-unit standards for direct labor are 1.5 direct labor
hours at $15 per hour. If in producing 3400 units, the actual
direct labor cost was $69750 for 4500 direct labor hours worked,
the total direct labor variance is
$2250 unfavorable.
$6750 unfavorable.
$6750 favorable.
$3400 unfavorable.
13. A company purchases 10000 pounds of materials. The materials
price variance is $7000 favorable. What is the difference between
the standard and actual price paid for the materials?
$1.43
$0.70
$7.00...
Javonte Co. set standards of 3 hours of direct labor per unit of product and $16.80...
Javonte Co. set standards of 3 hours of direct labor per unit of
product and $16.80 per hour for the labor rate. During October, the
company uses 21,500 hours of direct labor at a $365,500 total cost
to produce 7,400 units of product. In November, the company uses
25,500 hours of direct labor at a $434,775 total cost to produce
7,800 units of product.
AH = Actual Hours
SH = Standard Hours
AR = Actual Rate
SR = Standard Rate...
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for
a particular product:
Standard labor-hours per unit of output
9.0
hours
Standard labor rate
$
16.60
per hour
The following data pertain to operations concerning the product
for the last month:
Actual hours worked
9,600
hours
Actual total labor cost
$
156,480
Actual output
950
units
What is the labor rate variance for the month?
$17,115 U
$14,550 F
$2,880 F
$14,550 U
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a
particular product:
Standard labor-hours per unit of output
8.5
hours
Standard labor rate
$
12.30
per hour
The following data pertain to operations concerning the product
for the last month:
Actual hours worked
6,300
hours
Actual total labor cost
$
74,970
Actual output
800
units
What is the labor efficiency variance for the month?
The following labor standards have been established for a particular product: Standard labor hours per unit...
The following labor standards have been established for a
particular product:
Standard labor hours per unit of output
4.5
hours
Standard labor rate
$
19.70
per hour
The following data pertain to operations concerning the product
for the last month:
Actual hours worked
6,500
hours
Actual total labor cost
$
130,975
Actual output
1,400
units
Required:
a. What is the labor rate variance for the
month?
b. What is the labor efficiency
variance for the month?
(Indicate the effect of each...
The following labor standards have been established for a particular product: Standard labor hours per unit...
The following labor standards have been established for a
particular product:
Standard labor hours
per unit of output
4.9
hours
Standard labor
rate
$20.70
per hours
The following data pertain to operations concerning the product
for the last month:
Actual hours
worked
7,500
hours
Actual total labor
cost
$156,000
Actual output
1,500
units
Required:
a.
What is the labor rate variance for the month? (Input
the amount as a positive value. Leave no cells blank - be certain
to enter...
12. The following labor standards have been established for a particular product: Standard labor-hours per unit...
12.
The following labor standards have been established for a
particular product:
Standard labor-hours
per unit of output
8.9
hours
Standard labor rate
$
12.70
per hour
The following data pertain to operations concerning the product
for the last month:
Actual hours
worked
6,700
hours
Actual total labor cost
$
82,410
Actual output
1,000
units
What is the labor efficiency variance for the month?
Bellingham Company produces a product that requires 2 standard direct labor hours per unit at a...
Bellingham Company produces a product that requires 2 standard
direct labor hours per unit at a standard hourly rate of $21.00 per
hour. If 2,700 units used 5,600 hours at an hourly rate of $19.95
per hour, what is the direct labor (a) rate variance, (b) time
variance, and (c) cost variance? Enter a favorable variance as a
negative number using a minus sign and an unfavorable variance as a
positive number.
a. Direct labor rate variance $
b. Direct...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
- Do we have any online or offline tool to convert c and cpp programs into MIPS...
- -what is the pH of HCl 0,1M and NaCl 0,1M mixed together solution? -What is the...
- function X=extractDWT(x_train,startS,endS,wStep,wRange) % x_train = input signal % startS = from second % endS = end...
- Do you agree that Social Loafing is similar to Theory X. Give an example to support...
ADVERTISEMENT