Alpine Bicycle Company manufactures mountain bikes. The following data for May of the current year are available:

Question:

Quantity of direct labor used …………..… 600 hrs.

Actual rate for direct labor ………....... $12.50 per hr.

Bicycles completed in May …………………. 280

Standard direct labor per bicycle ……….….. 2 hrs.

Standard rate for direct labor …..…… $12.75 per hr.

Planned bicycles for May …………………….310

Determine the direct labor rate and time variances.

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

Step by Step Answer:

Related Book For book-img-for-question

Survey of Accounting

ISBN: 978-0538749091

5th Edition

Authors: Carl S Warren

See More Books

Question Posted: Oct 21, 2011 05:05 AM

See More Questions

Bianca Bicycle Company manufactures mountain bikes with a variable cost of $200. The bicycles sell for $350 each. Budgeted fixed manufacturing overhead for the most recent year was $2,200,000....
The Cakebread Candy Company presents the following data for October: During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and...
The accountant for Porile Company prepared the following data for sales and losses from uncollectible accounts: Required: 1. Calculate the average percentage of losses from uncollectible accounts for...
The General Auditors Office (GAO) of ABC jurisdiction issued a report on the XYZ Electric Cooperative, a large member-owned utility. This report reviewed the work of MNO Consulting. MNO found...
On April 18, 2019, Bontanica Company, a garden retailer, purchased $9,800 of seed, terms 2/10, n/30, from Whitetail Seed Co. Even though the discount period had expired, Shelby Davey subtracted the...
32 Simplify: (2x-1) X 12 - x(2x-1) -
Discuss each of the theoretical change models introduced in this chapter. How can we use them when planning an HRIS implementation to increase our chances of success?
Consider two countries (Home and Foreign) that produce goods 1 (with labor and capital) and 2 (with labor and land) according to the production functions described in problems 2 and 3. Initially,...
(1) Consider three qubit Fourier Transform. 1.a Write down 8x8 Quantum Fourier matrix (QFT) 1.b Apply the 8x8 Fourier matrix on the state (000). 1000) (1) 1. Apply the 8x8 Fourier matrix on the state...
Fox Company purchased items of inventory as follows: May 3 100 units @ $3.05 May 10 150 units @ $3.10 May 15 120 units @ $3.15 By the end of the month of May, Fox had sold 125 units. If the company...
The following data relate to labor cost for production of 5,500 cellular telephones: Actual: .... 3,650 hrs. at $15.20 ..... $55,480 Standard: .. 3,710 hrs. at $15.00 .... $55,650 (a) Determine the...
At the beginning of October, Cornerstone Printers Company budgeted 16,000 books to be printed in October at standard direct materials and direct labor costs as follows: Direct materials $24,000...
A training airplane has a velocity of 32 m/s when it lands on an aircraft carrier. As the arresting gear of the carrier brings the airplane to rest, the velocity and the acceleration of the airplane...
Marigold Manufacturing Company reported the following year-end information: beginning work in process inventory, $79100; cost of goods manufactured, $980700; beginning finished goods inventory,...
As a tax professional, understanding the key components associated with taxation is crucial for ensuring accurate financial reporting and compliance. Accounting profit represents the profit reported...
Landmines Cheap and easy to deploy, many fighting forces routinely use mines to defend a frontier, deny opponents the use of a road, and many other purposes. Often these landmines remain active long...
Swifty Company received proceeds of $159800 on 10-year, 8% bonds issued on January 1, 2018. The bonds had a face value of $170000, pay interest annually on January 1, and have a call price of 101....
5 9.09 points Skipped eBook Hint Print References Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is...
For a lossless line, the surge impedance is purely resistive and the propagation constant is pure imaginary. (a) True (b) False
1. What are some current issues facing Saudi Arabia? What is the climate for doing business in Saudi Arabia today? 2. Is it legal for Auger's firm to make a payment of $100,000 to help ensure this...
Obtain a Thvenin equivalent for the circuit of Fig. 4-26 to the left of terminals ab. 10 2 10 2 h 10 2 Is.c. 5 b
Minnie Divers, the manager of the marketing department for one of the industrys leading retail businesses, has been notified by the accounting department that her department experienced an...
How do variance reports promote the management by exception doctrine?
How do variance reports promote the management by exception doctrine?
Watch the Video "Types of Risks - Risk Management in Banks" https://youtu.be/8QjCdwhPT8U Provide a one paragraph answer to each of the following questions: In your opinion, what type of bank risk has...
4. A product manager prepared the following forecasts for a product line: 0 1 2 3 4 5 6 and later + + + + + $2m $2m $3m $4m $4m g=2.5% If the appropriate discount rate is 8.5%, what is the present...
Assume the following ratios are constant: Total asset turnover Profit margin Equity multiplier Payout ratio 3.10 6.0% 1.50 20% What is the sustainable growth rate? (Do not round intermediate...

Alpine Bicycle Company manufactures mountain bikes. The following data for May of the current year are available:

Question:

Step by Step Answer:

Rate variance Direct Labor Rate Variance Actual Rate per Hour Stan...View the full answer

Survey of Accounting

Students also viewed these Managerial Accounting questions