A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e...
Fantastic news! We've Found the answer you've been seeking!
Question:
![](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2022/04/624c02e43cfde_644624c02e41921f.jpg)
![](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2022/04/624c02e4eb0c8_644624c02e4c8d09.jpg)
Transcribed Image Text:
A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e $8 per pound 2 DLH e $17 per DLH 2 DLH e $13 per DLH Actual Results Direct materials Direct labor Overhead 60,800 pounds e $8.10 per pound 17,000 hours e $17.50 per hour $ 230,000 8,600 units Units manufactured Exercise 8-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Answer is not complete. Actual Cost Standard Cost AH AR АН SR SH SR Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH= Standard Hours AR = Actual Rate SR = Standard Rate Answer is not complete. Actual Cost Standard Cost AH AR AH SR O SH O SR 17,000 O $ 17.50 17,000 $ 17.00 $ 17.00 O 297.500 289,000 $ 8,500 Unfavorable Favorable Direct labor rate variance O $8,500 Direct labor efficiency variance Total direct labor variance Unfavorable A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds e $8 per pound 2 DLH e $17 per DLH 2 DLH e $13 per DLH Actual Results Direct materials Direct labor Overhead 60,800 pounds e $8.10 per pound 17,000 hours e $17.50 per hour $ 230,000 8,600 units Units manufactured Exercise 8-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Answer is not complete. Actual Cost Standard Cost AH AR АН SR SH SR Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH= Standard Hours AR = Actual Rate SR = Standard Rate Answer is not complete. Actual Cost Standard Cost AH AR AH SR O SH O SR 17,000 O $ 17.50 17,000 $ 17.00 $ 17.00 O 297.500 289,000 $ 8,500 Unfavorable Favorable Direct labor rate variance O $8,500 Direct labor efficiency variance Total direct labor variance Unfavorable
Expert Answer:
Answer rating: 100% (QA)
Excel Poo11 new Excel POONAM GOYAL PG File Home Insert Page Layout Formulas Data Review View ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A manufactured product has the following information for August. Compute the (1) Standard cost per unit, (2) Total budgeted cost for production in August, (3) Total cost variance for August. Indicate...
-
A manufactured product has the following information for June. Compute the (1) Standard cost per unit (2) Total cost variance for June. Indicate whether the cost variance is favorable or unfavorable....
-
The Cake Factory has the following information for the month of March. Prepare a (a) schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) prepare only...
-
List four components and four guidelines that the J. Crew mission statement fails to exhibit. Write a new and improved mission for J. Crew.
-
Abstract: This article addresses the education of women in prison in relation to an emerging area of research and policy concern: vocational training. Using interviews with women prisoners in...
-
Either Ferrari or Maserati does not make economy cars. Translate the following statements into symbolic form using uppercase letters to represent affirmative English statements. Example: Suppose you...
-
PR 2-2 A firm sells a part of its investment interest, reducing its holding from 30% to 10%. The firm decides, correctly, that the equity method is no longer appropriate. What is the basis for the...
-
Stiever Industries manufactures and sells three different models of wet-dry shop vacuum cleaners. Although the shop vacs vary in terms of quality and features, all are good sellers. Stiever is...
-
Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations
-
Alice has invented a new card game to play with Bob. Alice made a deck of cards with random values between 1 and 52. Bob picks 5 cards. Then, he has to rearrange the cards so that by utilizing the...
-
QUESTION Integrative Cases 3-72 (Algo) Financial Modeling (LO 3-1, 2, 3, 4, 5) Three entrepreneurs were looking to start a new brewpub near Sacramento, California, called Roseville Brewing Company...
-
A program X running on processor A has a global CPI of 2 and a clock frequency of 2 GHz. The same program X running on processor B has a global CPI of 5 and a clock frequency of 5 GHz. what processor...
-
20 cm Room (3) 20 cm + 1 D=10 cm + 20 cm [ 10 10 cm Figure 7 (d) Using configuration factor formulae given in Figures 7(a), 7(b) and 7(c) Calculate configuration factor F12 in Figure 7(d) treating...
-
2. Let P(3,2,1),Q(2,1,c) and R(c,1,0) be points in R3. (a) Use the cross product definition to find the area of triangle PQR in terms of c. (b) For what values of c (if any) is PQR a right triangle?
-
Find and classify the discontinuities of the following function as removable or nonremovable. If a classification has no discontinuities, write None for your answer. Answer 03023 Hawks Learning A(x)=...
-
Do you see a parallel between the evolution of goals in economics and the move from Corporate Social Responsibility (CSR) to environmental, social, and governance (ESG), ? If so, please explain...
-
Zoe received gross interest from her bank of 4,000 and employment income of 17,750 from her job during the year ended 5 April 2021. PAYE income tax of 800 was deducted from her employment income. She...
-
1. Use these cost, revenue, and probability estimates along with the decision tree to identify the best decision strategy for Trendy's Pies. 2. Suppose that Trendy is concerned about her probability...
-
Define and describe the cash conversion cycle and identify its three components.
-
Use the following information of Prescrip Co. to prepare a calendar year-end statement of comprehensive income. Total comprehensive income (final total).. Net income.. Change in value of...
-
Refer to Samsungs financial statements in Appendix A. What percent of its current assets is inventory as of December 31, 2017 and 2016? Data from Appendix A Samsung Electronics Co., Ltd. and...
-
Create a risk register for the project, using Table 11-5 and the data after it as a guide. Identify six potential risks, including risks related to the problems described in the previous paragraph....
-
Open the template file called breakeven using Microsoft Excel. Examine the formulas in the file to understand the relationships between the variables (such as sales price per unit, manufacturing cost...
-
Suppose your college or organization is considering a new project to develop an information system that would allow all employees, students, and customers to access and maintain their own human...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App