Question

In: Accounting

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

$1.00

14. A company uses 80000 gallons of materials for which they paid $3 a gallon. The materials price variance was $80000 favorable. What is the standard price per gallon?

$1.00

$3.00

$4.00

$2.00

15. All Bramble Corp. produces a product requiring 4 pounds of material costing $3.50 per pound. During December, All Bramble purchased 4300 pounds of material for $14448 and used the material to produce 500 products. What was the materials price variance for December?

$448 U

$575 F

$1023 U

$602 F

16. Clark Company manufactures a product with a standard direct labor cost of two hours at $18 per hour. During July, 2600 units were produced using 5600 hours at $18.30 per hour. The labor quantity variance was

$7320 F.

$7200 U.

$7320 U.

$5760 U.

Expert Solution

ekkarill92 answered 1 year ago

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...

Habelt Company's labor cost per unit is $45 (3 hours x $15 per hour). For the...

Habelt Company's labor cost per unit is $45 (3 hours x $15 per hour). For the month of May, Habelt Company had 3,600 hours of direct labor with an hourly cost of $40.50 per hour and made 1,300 units of finished product. Find total, price, and quantity variance. Figure out what the total, price, and quantity variances are from the given information.

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...

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?

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

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...

standard labor hours per unit 4.5 hours standard labor rate $17 per hour actual hours worked...

standard labor hours per unit 4.5 hours standard labor rate $17 per hour actual hours worked 2,000 hours actual labor $38,000 actual output 500 units What is the labor efficiency variance? $4,250 favorable $1,500 unfavorable $4,250 unfavorable $1,500 favorable Which is correct?

Actual quantity of direct labor 5,000 hours Actual direct labor rate $10 per hour Total direct...

Actual quantity of direct labor 5,000 hours Actual direct labor rate $10 per hour Total direct labor variance $8,600 Unfavorable . Direct labor rate variance $4,000 Unfavorable . Standard hours allowed per unit produced 2 hours Required: Find the following unknowns. a. Direct labor efficiency variance b. Standard rate per direct labor hour c. Actual quantity produced

4).Sales is $100 per unit; direct material is $25 per unit; direct labor is $15 per...

4).Sales is $100 per unit; direct material is $25 per unit; direct labor is $15 per unit, overhead is $10 per unit and $20,000 per month; selling and administrative expenses are $5 per unit and $10,000 per month. The company produced 900 units. Gross margin equals: a).$25,000 b).$40,500 c).$90,000 d).$10,500 5).Sales is $100 per unit; direct material is $25 per unit; direct labor is $15 per unit, overhead is $10 per unit and $20,000 per month; selling and administrative expenses...

For Russell, Inc., direct materials standards are 5 pounds at $15 per pound, direct labor standards...

For Russell, Inc., direct materials standards are 5 pounds at $15 per pound, direct labor standards are 2 hours at $25 per hour, and variable overhead is applied at a rate of $50 per hour. Russell budgeted to manufacture and sell 280,000 units for $550 per unit, but actually manufactured and sold 300,000 units for total revenues of $163,000,000, spending $25,000,000 for 1,600,000 pounds of direct materials and $14,000,000 for 550,000 hours of direct labor. Fixed overhead was budgeted at...