Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help, will upvote Javon Company set standards of 3 hours of direct labor per unit at a rate of $16.40 per hour. During October,

please help, will upvote
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Javon Company set standards of 3 hours of direct labor per unit at a rate of $16.40 per hour. During October, the company actually uses 20,500 hours of direct labor at a $340,300 total cost to produce 7,000 units. In November, the company uses 24,500 hours of direct labor at a $407,925 total cost to produce 7,400 units of product. AH=ActualHoursSH=StandardHoursAR=ActualRateSR=StandardRate (1) Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance for each of these two months (2) Javon irvestigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further? Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance for each of these two months. (Indicate the effect of each variance by selecting favorable, unlavorable, or no variance.) Javon investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further? Mia Wiz sells computers. During May, it sold 600 computers at a $900 per unit price. The fixed budget for May predicted sales of 650 computers at an per unit price of $860. AQ=ActuaQuantity SQ=Standard Quantity AP= Actual Price SP= Standard Price 182. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfovorable, or no variance.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Sneak Peek Into The Auditing World A Day Of An Auditor

Authors: Anupma Aggarwal, Adv (Dr.) Raj Kumar S Adukia

1st Edition

ISBN: 1648997074, 978-1648997075

More Books

Students also viewed these Accounting questions

Question

Make efficient use of your practice time?

Answered: 1 week ago