Ivanov Shoes standard labor cost of producing one unit of Product DD is 4 hours at the

Question:

Ivanov Shoes’ standard labor cost of producing one unit of Product DD is 4 hours at the rate of €12.00 per hour. During August, 40,600 hours of labor are incurred at a cost of €12.15 per hour to produce 10,000 units of Product DD.

Instructions

a. Compute the total labor variance.

b. Compute the labor price and quantity variances.

c. Repeat (b), assuming the standard is 4.1 hours of direct labor at €12.25 per hour.

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Related Book For answer-question

Accounting Principles

ISBN: 978-1119419617

IFRS global edition

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

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Question Posted: Jul 22, 2019 02:24 PM

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Ivanov Shoes standard labor cost of producing one unit of Product DD is 4 hours at the

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a Total labor variance AHXAR 40600 X 1215 493290 SHXSR 40000 X 1200 480000 13290U 10000 X ...View the full answer

Accounting Principles

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