A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e $8 per pound 2 DLH e $17 per DLH 2 DLH e $13 per DLH Actual Results Direct materials 60,800 pounds e $8.10 per pound 17,000 hours e $17.50 per hour $ 230,000 8,600 units Direct labor Overhead Units manufactured Exercise 8-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e $8 per pound 2 DLH e $17 per DLH 2 DLH e $13 per DLH Actual Results Direct materials 60,800 pounds e $8.10 per pound 17,000 hours e $17.50 per hour $ 230,000 8,600 units Direct labor Overhead Units manufactured Exercise 8-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost
Expert Answer:
Answer rating: 100% (QA)
Actual COnt standard Cost sP AQ AP 810 60 800 60800 x 800 60200 x 80 48640 4860d 6080 40... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A manufactured product has the following information for August. Compute the (1) Standard cost per unit, (2) Total budgeted cost for production in August, (3) Total cost variance for August. Indicate...
-
A manufactured product has the following information for June. Compute the (1) Standard cost per unit (2) Total cost variance for June. Indicate whether the cost variance is favorable or unfavorable....
-
The Cake Factory has the following information for the month of March. Prepare a (a) schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) prepare only...
-
15. Show that the frequency of revolution of the electron in the Bohr model hydrogen atom is given by v = 2|E|/hn where E is the total energy of the electron. 16. Show that for all Bohr orbits the...
-
Under IFRS, how would a company record the revaluation of fixed assets to reflect an increase in fair value?
-
Now that you understand the concept of a zero rate of VAT, can you imagine the use of a negative rate of VAT, that is, consumption subsidy (temporary or selective)? How would such a system operate?
-
The ages of prime ministers of Sri Lanka, when they were first sworn to office, are normally distributed with a mean of 58.21 years and a standard deviation of 11.56 years. Find the probability that...
-
Bieber Inc. is a retailer operating in Calgary, Alberta. Bieber uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided...
-
Problem 1: Spitz Dairy (Joint Costs) Spitz Dairy produces 3 different products: Butter, Cheese and Whey from Milk. The cost of Milk is $1.5 per gallon and one gallon of Milk yields 0.5 pounds of...
-
Select all that apply: Requisitioning an OTC item to use for script fulfillment includes: Purchasing the item through the Target POS Generating a Price Barcode using price inquiry Getting a Target...
-
NORMAL LOAD FACTOR-G -3- i HOW TO USE CHART 7 1. SELECT DESIRED AIRSPEED 2. 3. MOVE VERTICALLY TO FLIGHT ALTITUDE MOVE LEFT HORIZONTALLY' TO MAXIMUM LOAD FACTOR FOR THAT SPEED AND ALTITUDE Question...
-
Motivation is Psychological concept Continuous process Positive or negative All of the above
-
_______ is a kind of mechanism that can raise the incentives of employees to get work done with increased speed. Theories X and Y Expectancy theory Goal-setting theory None of the above
-
Explain the effective management across cross-cultural teams to ensure employee motivation with an example.
-
________ encourages participative decision-making and emphasizes people and collaboration with respect to leadership styles. Situational leadership theory Pathgoal theory Trait theory Behavioral...
-
Why are acceptance criteria important in a software project?
-
You are given the following table of spot rates: spot rate 1 year 3.1% 2 years 3.3% 3 years 3.5% 4 years 3.9% 5 years 4.4% Determine the swap rate (in 5 decimal places) for a three-year deferred,...
-
(a) As Section 17.3 discusses, high-frequency sound waves exhibit less diffraction than low-frequency sound waves do. However, even high-frequency sound waves exhibit much more diffraction under...
-
Kohler Corporation reports the following components of stockholders equity at December 31, 2018. During 2019, the following transactions affected its stockholders equity accounts. Required 1. Prepare...
-
Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 when the market rate is 8%. Required 1....
-
Spiller Corp. plans to issue 10%, 15-year, $500,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that...
-
A stock price is governed by \[\frac{\mathrm{d} S}{S}=\mu \mathrm{d} t+\sigma \mathrm{d} z\] where \(z\) is a standardized Wiener process. Interest is constant at rate \(r\). An investor wishes to...
-
The current price of gold is \(\$ 412\) per ounce. The storage cost is \(\$ 2\) per ounce per year, payable quarterly in advance. Assuming a constant interest rate of \(9 \%\) compounded quarterly,...
-
At the beginning of April one year, the silver forward prices (in cents per troy ounce) were as follows: The carrying cost of silver is about 20 cents per ounce per year, paid at the beginning of...
Study smarter with the SolutionInn App