The following data relate to labor cost for production of 7,000 cellular telephones: Actual: 4,720 hrs....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following data relate to labor cost for production of 7,000 cellular telephones: Actual: 4,720 hrs. at $14.90 Standard: 4,650 hrs, at $15.10 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Favorable ✔ Unfavorable V Unfavorable ✓ Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower may have resulted in less efficient performance. Thus, the actual time required was more labor rate than planned. The lower level of experience or training than standard. The following data relate to labor cost for production of 7,000 cellular telephones: Actual: 4,720 hrs. at $14.90 Standard: 4,650 hrs, at $15.10 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Favorable ✔ Unfavorable V Unfavorable ✓ Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower may have resulted in less efficient performance. Thus, the actual time required was more labor rate than planned. The lower level of experience or training than standard.
Expert Answer:
Answer rating: 100% (QA)
Direct Labour Rate Variance Actual Hours Actual Rate Standard Rate 4700 157 159 940 Favourable D... View the full answer
Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
Students also viewed these accounting questions
-
A concrete manufacturing process can be designed for varying degrees of automation. The minimum required rate of return is 10% and economic life is 5 years. Salvage at that date is estimated to be...
-
In a recent survey regarding chocolate milk, it was found that the number of people who preferred chocolate milk to the number of people who preferred white milk was 7:5. If there are 20 more people...
-
The following data relate to labor cost for production of 4,000 cellular telephones: Actual: 2,670 hrs. at $12.5 Standard: 2,630 hrs. at $12.8 a. Determine the direct labor rate variance, direct...
-
Solomon Company's cost and production data for two recent months included the following: March April Production (units) 400 600 $2,400 $ $2,400 $1,200 Rent Utilities 800 Required a. Separately...
-
Chesapeake Chemical Company supplies primarily industrial users. Your superior has asked you to develop a standard product cost for a new solution the company plans to introduce. The new chemical...
-
I dont know you, and I very much liked working with Oscar Jones. Why was he transferred to Chicago? The customer you have just met for the first time is unhappy because of his relationship with the...
-
In a steam condenser, the partial pressure of steam and air are 0.060 bar and 0.007 bar respectively. The condenser pressure is (a) 0.067 bar (b) 0.060 bar (c) 0.053 bar (d) 0.007 bar
-
Avantronics is a manufacturer of electronic components and accessories, with total assets of $20,000,000. Selected financial ratios for Avantronics and the industry averages for firms of similar size...
-
You push on a rectangular door at the location of the knob (see diagram for top view). The door s mass is 71.5 kg, and its side-to-side width is 1.87 m. The knob is located 0.19 m from the right-hand...
-
Prove that Ki = xCi (x mi)(m mi) = 0. This fact was used in the proof that TSS = SSE + SSB on page 557.
-
You sold short 442 shares of common stock at $37 per share. The broker has a 50% initial margin requirement. So you must have 50% of your initial position value in cash or other safe securities like...
-
Why was the limited exemption from antitrust laws so crucial to the development of the NFL?
-
1. You have just started a new company to deliver mail and parcels to rural communities. At the moment, other companies either do not provide a service or are exceptionally expensive. The new company...
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. The Green Giant is an example of a trade name.
-
Why cant Premier League teams like Arsenal exert as much monopoly power as the NFL's Chicago Bears?
-
Why do you think that antitrust lawsuits brought under the second clause of the Sherman Antitrust Act have generally been so unsuccessful?
-
Drixhen Ltd is a company which manufactures a range of stringed instruments. A new guitar, which is suitable for beginners, has been commissioned by a national music school. The management of Drixhen...
-
During the month, services performed for customers on account amounted to $7,500 and collections from customers in payment of their accounts totaled $6,000. At the end of the month, the Accounts...
-
The following data relate to factory overhead cost for the production of 15,000 computers: Actual: ..................Variable factory overhead..................$240,000...
-
Bon Nebo Co. sold 25,000 annual subscriptions of Magazine 20XX for $85 during December 20Y8. These new subscribers will receive monthly issues, beginning in January 20Y9. In addition, the business...
-
At the end of the current year, Accounts Receivable has a balance of $3,460,000, Allowance for Doubtful Accounts has a debit balance of $12,500, and sales for the year total $46,300,000. Bad debt...
-
Apple stock is selling for \($120\) per share. Call options with a \($117\) exercise price are priced at \($12.\) What is the intrinsic value of the option, and what is the time value?
-
Ibrahim bought 200 shares of a stock trading in the Abu Dhabi Securities Exchange at AED 12 (United Arab Emirates dirham) per share. Over time, the price of the stock increased to AED 18 per share....
-
Twitter is trading at \($34.50.\) Call options with a strike price of \($35\) are priced at \($2.30\) . What is the intrinsic value of the option, and what is the time value?
Study smarter with the SolutionInn App