Direct Labor VariancesGlacier Bicycle Company manufactures commuterbicycles from recycled materials. The following data forOctober of the current year are available:Quantity of direct labor usedActual rate for direct laborBicycles completed in OctoberStandard direct labor per bicycleStandard rate for direct laborDirect Labor Rate VarianceDirect Labor Time Variance640 hrs.$12.40 per hr.300 bicyclesa. Determine for October the direct labor rate variance,direct labor time variance, and total direct labor costvariance. Enter a favorable variance as a negativenumber using a minus sign and an unfavorable varianceas a positive number.Total Direct Labor Cost Variance2 hrs.$12.60 per hr.b. How much direct labor should be debited to Work inProcess?

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Description: Direct Labor VariancesGlacier Bicycle Company manufactures commuterbicycles from recycled materials. The following data forOctober of the current year are available:Quantity of direct labor usedActual rate for direct laborBicycles completed in Octob

Labor variance signifies the difference between the actual performance and actual performance of…

Answered: Direct Labor Variances

Business

Accounting

Direct Labor Variances

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...

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Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of direct labor used 710 hrs. Actual rate for direct labor $12.30 per hr. Bicycles completed in October 330 bicycles Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $12.50 per hr. a. Determine for October 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. Direct Labor Rate Variance $fill in the blank 1 Direct Labor Time Variance $fill in the blank 3 Total Direct Labor Cost Variance $fill in the blank 5 b. How much direct labor should be debited to Work in Process?$fill in the blank 7
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