Venneman Company produces a product that requires 2 standard hours per unit at a standard hourly rate of $15.00 per hour. If 4,300 units required 8,900 hours at an hourly rate of $14.70 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) 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. a.  Direct labor rate variance $fill in the blank 1   b.  Direct labor time variance $fill in the blank 3   c.  Total direct labor cost variance $fill in the blank 5

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Q: A product is expected to take 2 hours per unit and the labour is budgeted at £9 per hour. The…

A: Here in this question, we are required to calculate the labor rate and efficiency variance. Labor…

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A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

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A: The fixed overhead cost variance indicates the extra Fixed OH actually incurred over and above the…

Q: The standard direct labor cost per unit for a company was $27 (- $18 per hour x 15 hours per unit)…

A: Direct labor cost is referred to as that cost which is related to the labor force which is used in…

Q: A firm produces a product that requires seven standard pounds per unit. The standard price is $5 per…

A: Calculation of material price variance: =(Standard price (SP) - Actual price (AP)) * Actual quantity…

Q: Bellingham Company produces a product that requires 8 standard direct labor hours per unit at a…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor time…

Q: Use the information provided below to calculate the following variances for May 2021. Each answer…

A: Standard cost means the cost which the company is expecting to be incurred on the basis of estimate…

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A: Variance analysis is an important technique which is used by cost accountants to compare the…

Q: Bellingham Company produced 15,000 units of product that required 4 standard direct labor hours per…

A: Fixed Overhead volume variance = Budgeted Fixed Overhead - Absorbed/Applied Fixed overhead  where,…

Q: Direct Labor Variances Bellingham Company produces a product that requires 5 standard direct labor…

A: In this numerical has covered the concept of Standard Costing .

Q: Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a…

A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…

Q: The following data relate to direct labor costs for the current period: Standard costs   6,000…

A: DIRCET LABOR RATE VARIANCE : = ( ACTUAL PRICE - STANDARD PRICE ) X ACTUAL HOURS

Q: what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter…

A: Direct material variances:   The difference between the actual material cost per unit and the…

Q: Japan Company produces lamps that require 2 standard hours per unit at an hourly rate of $20.40 per…

A: a. Rate variance    (Standard Rate - Actual Rate)*Actual Hour  b. Time variance    (Standard Hour…

Q: Frontera Company’s output for the current period results in a $20,000 unfavorable direct labor rate…

A: Labour cost variance: The difference between the standard cost of labour estimated and the actual…

Q: The management of​ Pamela's Pet Supplies has calculated the following​ variances:   Direct materials…

A: Fixed factory overhead volume variance = Budgeted overhead - standard overhead

Q: Bellingham Company produced 15,000 units of product that required 4 standard direct labor hours per…

A: Controllable variance: It is the difference between the actual overheads incurred and the standard…

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A: Direct labour cost variance shows difference between standard cost of labour and actual cost of…

Q: Venneman Company produces a product that requires 3.5 standard pounds per unit. The standard price…

A: Direct Materials Price Variance = (Actual Price- Standard Price) * Actual Quantity Purchased Direct…

Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…

A: The variance is the difference between the actual data and standard output of the production.

Q: Bellingham Company produces a product that requires 2 standard hours per unit at a standard hourly…

A: Labor cost variance: Labor cost variance is the difference between actual labor cost and standard…

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A: Direct material price variance  (Standard Price*Actual Quantity) - (Actual Price*Actual Quantity)…

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A: Introduction: Variance analysis is the quantitative examination of the differences between actual…

Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…

A: Variance analysis is the analysis between standard and actual results to mainly find out the reason…

Q: Bellingham Company produces a product that requires 2 standard direct labor hours per unit at a…

A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…

Q: Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per…

A: Formulas: Direct Labor rate variance = (Standard Rate - Actual Rate)*Actual Hour Direct Labor…

Q: Japan Company produces lamps that require 2 standard hours per unit at an hourly rate of $16.70 per…

A:

Q: What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d)…

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

Q: (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a…

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Q: Beverly Company has determined a standard variable overhead rate of $3.40 per direct labor hour and…

A:

Q: Bellingham Company produces a product that requires six standard pounds per unit. The standard price…

A: The calculation of direct materials price, quantity, and cost variance is as follows: The resultant…

Q: Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price…

A: Direct material cost variance = Standard Cost - Actual Cost  OR Direct material cost variance =…

Q: Beverly Company has determined a standard variable overhead rate of $4.00 per direct labor hour and…

A: Applied overhead = No. of units produced x labor hour per unit  x variable overhead rate = 3,500…

Q: If the standard to produce a given amount of product is 600 direct labour hours at £15 and the…

A: Labour rate variance: Labour rate variance is the difference between the actual rate per hour and…

Q: Alvarez Company’s output for the current period yields a $20,000 favorable overhead volume variance…

A: Given information is: Alvarez Company’s output for the current period yields a $20,000 favorable…

Q: Venneman Company produces a product that requires 4 standard hours per unit at a standard hourly…

A: Formula: Direct labor rate variance = Actual hours x ( Standard rate per hour - Actual rate per hour…

Q: he management of Earth Barber Lawnmowers has calculated the following variances: Direct materials…

A: Fixed Overhead Variance = Spending Variance + Volume Variance As per the given case Fixed Overhead…

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A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Standish Company manufactures consumer products and provided the following information for the month…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: The production cost for a waterproof phone case is $9 per unit and fixed costs are $27,000 per…

A: Standard cost = Total fixed costs + No. of units produced  x Variable cost per unit = 27000 + 5000*9…

Q: Bellingham Company produced 4,200 units of product that required 2.5 standard direct labor hours per…

A: Fixed factory overhead: The overheads amount remains fixed. It won't varies according to the input…

Q: Alvarado Company produces a product that requires 7.5 standard direct labor hours per unit at a…

A: Direct labor rate variance calculates the difference in standard labor cost and actual labor cost…

Q: Bellingham Company produces a product that requires 10 standard pounds per unit. The standard price…

A: The management use standard costing for setting future targets of operations to be achieved which…

Q: Tippi Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00…

A: a. Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours workd =…

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A: Variance in direct labour costs means difference in standard labour costs and actual labour costs.

Q: The production cost for a waterproof phone case is $5 per unit and fixed costs are $27,110 per…

A: Standard cost=Variable cost per unit×Units+Fixed costs=$5×5,216+$27,110=$53,190

Q: Venneman Company produces a product that requires 5 standard pounds per unit. The standard price is…

A: Direct material price variance  (Standard Price*Actual Quantity) - (Actual Price*Actual Quantity)…

Q: Japan Company produces lamps that require 3 standard hours per unit at a standard hourly rate of…

A: Direct labor rate variance = (Actual rate - Standard rate)*Actual hours. If the actual rate is more…

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A: Standard data: Hour = SH 1.2 * 2000 = 2400 hours Rate = SR = $10 per hour Cost = SC = 10 * 2400 =…