Vanderwaal Company uses a standard costing system. In August, 5,300 actual labor hours were worked at a rate of $12.50 per hour. The standard number of hours is 5,275 and the standard wage rate is $12.75 per hour. Prepare a journal entry to record labor cost and related variances during the month.
Answer to relevant QuestionsAt Designs by Deirdre, the budgeted income statement for December, 2011, indicated sales of $600,000 and cost of sales of $400,000. Actual sales and cost of sales were $700,000 and $425,000, respectively. Should Deirdre ...Linneas Company uses a standard costing system. During 2012,the company incurred actual overhead of $560,000.The standard rate for applying overhead is $3.75 per unit, and 140,000 units were produced in 2012.One-fourth of ...Sarah Aiken is the owner of Pretty Paws, a dog-grooming service. At standard, it takes 1 hour to groom each dog. During the month of October, it took Pretty Paws employees 345 hours to groom 300 dogs at a total labor cost of ...Antikron Company produces rubber seals used in the aerospace industry. Standards call for 4 pounds of material at $3.50 per pound for each seal. The standard cost for labor is .6 hours at $21 per hour. Standard overhead is ...Bechtel Technical Clothing produces parkas used by arctic explorers, mountain climbers, and people living in Minnesota. The company uses a standard costing system, and standards call for 3.5 yards of material at $45 per yard ...
Post your question