You have been given the following information of Lindvie Corporation for September. Actual labor hours used...

  

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You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April? You have been given the following information of Lindvie Corporation for September. Actual labor hours used Standard material price Actual labor rate per hour Standard quantity of materials used Standard labor hours used Actual materials price Standard labor rate per hour Actual quantity of materials purchased and used Required: Compute for the following 1. Material price variance 2. Materials efficiency variance 3. Labor rate variance 4. Labor efficiency variance 3,150 hours P 2.50 per unit P 3.00 4,050 units 3,000 hours P2.52 per unit P3.10 4,450 units The Phantom Company manufactures one product and provides you with the following information for the year ended 2019: Normal direct labor hour Standard fixed overhead rate Standard fixed overhead cost per unit Units manufactured - actual Actual direct labor hours Actual overhead - Variable Actual overhead - Fixed Total budgeted overhead Required: Compute for the following: 1. Variable overhead spending and efficiency variance 2. Fixed overhead spending and volume variance 3. Variances using 2-way method 4. Variances using 3-way method 5. Variances using 4-way method 155,000 P 4.00 P 10.00 60,000 148,000 P 475,000 632,500 P1,085,000 Sharp Co.'s records for April disclosed the following data relating to direct labor Actual cost Rate Variance Efficiency Variance Standard cost P 10,000 1,000 favorable 1,500 unfavorable P 9,500 Actual direct labor hours for April amounted to 2,000. What is Sharp's standard direct labor rate per hour in April?

Answer rating: 100% (QA)

Lets calculate the variances for each of the given scenarios 1 Lindvie Corporation Material Price Variance Material Price Variance Actual Quantity Pur... View the full answer