Pharoah Industries uses a standard cost system. Pharoah has established the following standards for one unit...
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Pharoah Industries uses a standard cost system. Pharoah has established the following standards for one unit of product: standard labor of 0.25 hour and standard wage rate of $13 per hour. During January, Pharoah used 5,600 hours of direct labor and paid $75,500 in wages in producing 19,300 units. Calculate the direct labor rate variance and indicate whether the variance is favorable or unfavorable. D. Oriole Industries uses a standard cost system in which direct material is carried at standard cost. Oriole has established the following standards: standard quantity of 10 pounds per unit, standard price $1.80 per pound. During January, Oriole purchased 168,000 pounds of direct material at a cost of $320,000 an used 195,500 pounds in production of 20,300 units. Calculate the direct materials quantity variance and indicate whether the variance favorable or unfavorable. Pharoah Industries uses a standard cost system. Pharoah has established the following standards for one unit of product: standard labor of 0.25 hour and standard wage rate of $13 per hour. During January, Pharoah used 5,600 hours of direct labor and paid $75,500 in wages in producing 19,300 units. Calculate the direct labor rate variance and indicate whether the variance is favorable or unfavorable. D. Oriole Industries uses a standard cost system in which direct material is carried at standard cost. Oriole has established the following standards: standard quantity of 10 pounds per unit, standard price $1.80 per pound. During January, Oriole purchased 168,000 pounds of direct material at a cost of $320,000 an used 195,500 pounds in production of 20,300 units. Calculate the direct materials quantity variance and indicate whether the variance favorable or unfavorable.
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1 Calculate the direct labor rate variance Where Actual Wage Rate Total wages paid Total hours of di... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
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