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 $665 favorable. $15,335 favorable. $665 unfavorable. O $16,000 favorable. $16,000 unfavorable. $ 6.65 per finished unit 85,600 hours 171,100 units $ 1,153,815
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 $665 favorable. $15,335 favorable. $665 unfavorable. O $16,000 favorable. $16,000 unfavorable. $ 6.65 per finished unit 85,600 hours 171,100 units $ 1,153,815
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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