cher Company collected the following data regarding production of one of its products. Compute the total direct labor cost variance.Direct labor standard (2 hrs. @ $12.75/hr.)Actual direct labor hoursActual finished units producedActual cost of direct labor$ 25.50 per finished unit64,600 hrs.32,000 units$895,850Multiple ChoiceОО$79,850 unfavorable.$79,850 favorable.О$72,200 favorable.О$72,200 unfavorable.

Detailed explanation: Direct labor cost variance = actual cost - (standard cost x actual…

Answered: cher Company collected the following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...

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Similar questions

At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Misterio applies variable overhead using a standard rate of 2 per direct labor hour allowed. Two direct labor hours are allowed per unit produced. (Only one type of product is manufactured.) During the quarter, Misterio used 30 percent more direct labor hours than should have been used. Required: 1. What were the actual direct labor hours worked? The total hours allowed? 2. What is the standard hourly rate for direct labor? The actual hourly rate? 3. How many actual units were produced?
H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650 pounds) has the following standards: The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch 08-99 were as follows: a.Determine the standard unit materials cost per pound for a standard batch. b.Determine the direct materials quantity variance for batch 08-99.
A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH Standard Hours AR = Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost $ 0 $ 74,000 $15 $14 75, 200 0 0 $ 0 Standard Cost
A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced 63,000 $ 14 Actual Cost $12 64,200 AH Actual Hours SH= Standard Hours AR Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Standard Cost
Fletcher Company collected the following data regarding production of one of its products. Compute the direct labor efficiency variance. Direct labor standard (.50 hours @ $13.30/hour) Actual direct labor hours Actual finished units produced Actual cost of direct labor Multiple Choice O O $665 favorable. $15,335 favorable. $665 unfavorable. $16,000 favorable. $16,000 unfavorable. $ 6.65 per finished unit 85,600 hours 171,100 units $ 1,153,815
A company reports the following information for its direct labor. Actual hour of direct labor uned Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direet labor for unita produced 65,000 $ 14 $13 66,000 AH - Actual Hours SH Standard Hours AR Actual Rate SR- Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost
Use the following data to find the direct labor efficiency variance. Direct labor standard (4.5 hrs.@ $6/hr.) Actual hours worked per unit Actual units produced Actual rate per hour O $4,200 unfavorable $16,800 unfavorable O $16,800 favorable $12,600 favorable O $3,150 favorable Question 24 $27per finished unit 4.0 hrs 4,200 units $6.25 Which of the following is an example of a performance measure of the customer persp in a balanced scorecard? 3
XYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; SH x SR = $85,000. Compute the direct labor cost variance. Multiple choice question. $1,000 U $1,000 F $2,000 F $2,000 U
Fletcher Company collected the following data regarding production of one of its products. Compute the total direct labor variance. Direct labor standard (2 hours @ $12.90/hour) Actual direct labor hours Actual finished units produced Actual cost of direct labor Multiple Choice O $53,400 unfavorable. $19,350 favorable. $72,750 unfavorable. $72,750 favorable. $53,400 favorable. $ 25.80 per finished unit 89,000 hours 43,750 units $ 1,201,500
Use the following data to find the total direct labor cost variance if the company produced 3,500 units during the period. Direct labor standard (4.00 hrs. @ $7.00/hr.) $ 28.00 per unit Actual hours worked 12,650 Actual rate per hour $ 7.40 Multiple Choice $5,600 favorable. $4,390 unfavorable. $5,600 unfavorable. $4,390 favorable. $12,650 favorable.
Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 46,000 actual direct labor hours worked $373,200 Overhead rate (variable $7; fixed $1) at normal capacity of 50,700 direct labor hours $8 Standard hours allowed for work done 46,750 Compute the total overhead variance. Total overhead variance $enter the total overhead variance in dollars select an option Neither favorable nor unfavorableFavorableUnfavorable

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