During March 2022, Toby Tool & Die Company worked on four jobs. A review of direct labor

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During March 2022, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data.image

Analysis reveals that Job A257 was a repeat job. Job A258 was a rush order that required overtime work at premium rates of pay. Job A259 required a more experienced replacement worker on one shift. Work on Job A260 was done for one day by a new trainee when a regular worker was absent.

InstructionsPrepare a report for the plant supervisor on direct labor cost variances for March. The report should have columns for (1) Job No., (2) Actual Hours, (3) Standard Hours, (4) Quantity Variance, (5) Actual Rate, (6) Standard Rate, (7) Price Variance, and (8) Explanation.

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Related Book For  book-img-for-question

Accounting Tools For Business Decision Making

ISBN: 9781119571056

7th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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