The following data relates to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per

Fantastic news! We've Found the answer you've been seeking!

Question:

The following data relates to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per hour. Standard Costs: 5,000 hours at $23.70 per hour. What is the direct labor rate variance?

Related Book For answer-question

Cost management a strategic approach

ISBN: 978-0073526942

5th edition

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

See More Books

Posted Date: May 02, 2023 02:07 AM

See More Questions

1. The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 1,000 units were actually...
In late November, the sales department of Sanchez Manufacturing accepted a rush order for 8,000 units of one of its products. The sales department did not consult with any of the operating...
The following data relate to direct labor costs for the current period Standard costs ..........36,000 hours at $22.50 Actual Costs ..........35,000 hours at $23.00 What is the direct labor rate...
Local 54 has retained James Love to represent it in a grievance against Dilated Peoples Optical Inc. The union is grieving the employers decision to exclude from the bargaining unit the position of...
What is the difference between the income statement for a manufacturing firm and the income statement for a service firm?
Select an industry of your choice. Using secondary sources, obtain industry sales and the sales of the major firms in that industry for the past year. Estimate the market shares of each major firm....
The promoter of the film venture offers a new investment designed to attract reluctant investors. One unit of this new investment has a payoff of three times the original investment if the venture is...
A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fifty-nine percent of the respondents indicated an annual income of $75,000 or more and 50%...
Jeremy is thinking of starting up a small business selling NASCAR memorabilia. He asks his friend, Carmen, if she'd like to join him in setting up a partnership to start the business. What is one...
For the partially submerged backfill in Problem 13.13 (Figure 13.37), determine the Rankine's passive force per unit length of the wall and the location of the resultant In problem 13 Problem HH Y1 ...
Ryan had to make payment of $2,000 in 6 months and 3,000 in 18 months respectively to make a raw material supplier, What single payment 12 months from today would settle both of these payments?...
5. Let A = [3, oo) and B = [-8, 00) a. Find An B b. Find A U B c. Find A - B 6. Let A = [-9, co) and B = (-00, 9) a. Find AnB b. Find A U B c. Find A B
You are managing a restaurant. You do not accept reservations, and so all tables are walk-in. Customers that arrive and request a table are divided as follows: 50% require a table for 2, 40% require...
The income statement shows: Multiple choice question. a firm's assets, liabilities, and stockholders equity inflows and outflows of cash a firm's profit (or loss) after costs, expenses, and taxes the...
What governance mechanisms and policy instruments are effective in promoting sustainability transitions at local, regional, and global scales, considering the diverse interests and priorities of...
Asked bytoriweinreis12 If the total on the schedule of accounts receivable and the Accounts Receivable balance in the general ledger do not agree, the error a. could be in the total of the schedule,...
Earnest T needs $810 for his next trip to Raleigh. He has $630 in cash. How long in years will it take the $630 cash to grow to $810 if Earnest T earns 13.4% per annum on his cash, compounded...
What are the six activities involved in the physical supply/distribution system?
Name two types of organizational design and explain how they differ.
Using the information from requirement 1 of exercise 19-33, assume that division B could sell 10,000 units outside for $210 per unit with variable marketing costs of $8. In exercise 19-33, Should...
MicroTech Corporation is subject to a 35 percent income tax rate. Given the following information about the firms capital structure, calculate the corporations weighted-average cost of capital(WACC):...
A company expects to receive which of the following benefits when it uses its budgeting process? a. The planning required to develop the budget helps managers foresee and avoid potential problems...
A direct materials budget would be used in which of the following types of companies? a. Service b. Merchandising c. Manufacturing d. All of the above
A disadvantage to merchants from accepting debit and credit cards would be a. lost sales. b. transaction fees. c. bounced checks. d. longer time to receive cash.

The following data relates to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per

Question:

Expert Answer:

To calculate the direct labor rate variance we need to find the diff... View the full answer

Cost management a strategic approach

Students also viewed these accounting questions