a. What are the two variances between the actual cost and the standard cost for direct labor?

Question:

a. What are the two variances between the actual cost and the standard cost for direct labor?
b. Who generally has control over the direct labor cost?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

See More Books

Question Posted: Sep 05, 2011 07:48 AM

See More Questions

What are the two variances between the actual cost and the standard cost for direct materials?
What are the two variances used to analyze revenues in profit and investment centers?
Who issues Canada Savings Bonds (CSBs)? What are the two types of CSBs? What is a regular interest bond? What is a compound interest bond?
A star of a reality TV show: Real Housewives of Tacoma bought a house for her family 3 years ago. The houses asking price was $895,000. She put 20% down payment and a local bank lent her the...
A population is normally distributed with a mean of 30 and a standard deviation of 4. (a) What is the mean of the sampling distribution (M) for this population? (b) If a sample of 16 participants is...
ctuaries can use histograms to analyze the frequency of submitted insurance claims after mers over a particular period of time. The information in the table on the left below lists the number of...
Find the finite difference solution of the problem \[\begin{aligned}& \frac{\partial^{2} u}{\partial x^{2}}=\frac{\partial u}{\partial t} \quad 0 by the explicit method. Plot the solution using...
The Bango Toy Company produces several types of toys to seasonal demand. The forecast for the next six months in thousands of dollars is given below: A regular employee can produce $10,000 worth of...
Use the transaction information provided for Mike's Motors (the previous question) to create a balance sheet for Mike's Motors. Make sure to include every account that you used in the journal entries...
You are the Owners project manager on an electrical upgrade project. Existing overhead power lines are being buried in a duct bank to hide them from view in an area of the town that is being...
The materials cost variance report for Nickols Inc. indicates a large favorable materials price variance and a significant unfavorable materials quantity variance. What might have caused these...
A new assistant controller recently was heard to remark: All the assembly workers in this plant are covered by union contracts, so there should be no labor variances. Was the controllers remark...
Sylvester files as a single taxpayer during 2023. He itemizes deductions for regular tax purposes. He paid charitable contributions of $7,000, real estate taxes of $1,000, state income taxes of...
G. Browns sales including VAT were 130,000 in November 2020, then 150,000 in December 2020, and 110,000 during January 2021. Suppose that the rate of VAT was 20% until 31 December 2020 and 22.5% from...
What type of data is reported from focus groups? Can these findings be expected to represent the population? Why or why not?
A researcher is pondering what survey mode to use for a client that markets a home security system. The system consists of tiny motion sensors that are pressed onto all of the windows and doors. Once...
Robles & Co is a VAT-registered business. During the quarter just ended, it bought goods and services to the value of 51,690 excluding VAT, and its sales were 81,906 including VAT. All of the...
Compu-Ask Corporation has developed a stand-alone computerized interview system that can be adapted to almost any type of survey. It can be loaded onto a tablet computer, which allows respondents to...
Think of a company that produces one product and sells it to one group of customers (or make one up). Advise the entrepreneur of the many opportunities there are for growthopportunities for...
An auto-parts manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations each of which would cost $25,000 and have a...
In many instances, you can build a GIS model that is either vector-based or raster-based. What general guidelines should you use in deciding which model to build?
For the fiscal year, sales were $8,135,000, sales discounts were $795,000, sales returns and allowances were $475,000, and the cost of merchandise sold was $5,100,000. a. What was the amount of net...
Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them byletter. 525,000 $733,000 $1,440,000 $ (g) (e) 85,000...
On February 28, 2014, the balances of the accounts appearing in the ledger of Foldaway Furnishings Company, a furniture wholesaler, are as follows: a. Prepare a multiple-step income statement for the...
STS plc collects waste from houses, offices and factories. Most of the waste is burned to produce heat and electricity for the companys own use. This saves costs and reduces the impact on the...
Scenario You are the CFO of a Catholic School. You are asked to present recommendations to the board on two issues facing the school: First, the administration is considering purchasing a gymnasium...
A company projects an increase in net income of $30,000 each year for the next five years if it invests $300,000 in new equipment. The equipment has a five-year life and an estimated salvage value of...

a. What are the two variances between the actual cost and the standard cost for direct labor?

Question:

Step by Step Answer:

a The two variances in direct l...View the full answer

Accounting

Students also viewed these Managerial Accounting questions