Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual Costs Standard Costs Direct material 3,900 lbs. @ $5.30 4,000 lbs. @ $5.10 Direct labor 6,200 hrs. @ $8.40 6,000 hrs. @ $8.70 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: Answer Split cost: Answer Standard cost: Answer a. Materials price Answer Answer b. Materials efficiency Answer Answer Labor Variances Actual cost: Answer Split cost: Answer Standard cost: Answer c. Labor rate Answer Answer d. Labor efficieny Answer Answer

Question

26-09-2019
Business

contestada

Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual Costs Standard Costs Direct material 3,900 lbs. @ $5.30 4,000 lbs. @ $5.10 Direct labor 6,200 hrs. @ $8.40 6,000 hrs. @ $8.70 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: Answer Split cost: Answer Standard cost: Answer a. Materials price Answer Answer b. Materials efficiency Answer Answer Labor Variances Actual cost: Answer Split cost: Answer Standard cost: Answer c. Labor rate Answer Answer d. Labor efficieny Answer Answer

Respuesta :

Otras preguntas

Read these words from the Declaration of Independence what is the main purpose of this expert of the document

According to the functionalist perspective, all social institutions, including education, have functions that are hidden, unstated, and sometimes unintended con

Which of the following is a characteristic of theme? A. It is unique to each piece of work. B. It is the same as a moral. c. It exists only in literature. D. It

You're considering an investment that you expect will produce a return of 10 percent next year, and you expect that your real rate of return on this investment

which answer is the best prediction of the population in the year 2020?

Near the end of the model year, Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and ga

Can someone pleaseee help me?!!!!!

Which of the following risk factors is controllable? a.stress b. alcohol intake c. diabetes mellitus d. high blood cholesterol e. all of these

Gary is the marketing manager for an automobile dealership. His boss tells him the firm's primary goal is to increase its local market share from 15 to 30 perce

The supervisors of the production division of one of the branches of Georgia Mills have been informed of some irregularities noticed in inventory of raw materia

TomShelby TomShelby · Answer 1 · 2019-09-29T21:04:31+02:00

Answer:

Materials:

price 800U

quantity 510 F

Labor:

rate 1,860 F

efficiency 1,740 U

Explanation:

DIRECT MATERIALS VARIANCES

[tex](standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance[/tex]

std cost $5.10

actual cost $5.30

quantity 4,000

[tex](5.1 - 5.3) \times 4,000 = DM \: price \: variance[/tex]

price variance $(800.00)

[tex](standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance[/tex]

std quantity 4000.00

actual quantity 3900.00

std cost $5.10

[tex](4,000 - 3,900) \times 5.1 = DM \: quantity \: variance[/tex]

quantity variance $510.00

DIRECT LABOR VARIANCES

[tex](standard\:rate-actual\:rate) \times actual \: hours = DL \: rate \: variance[/tex]

std rate $8.70

actual rate $8.40

actual hours 6,200

[tex](8.7 - 8.4) \times 6,200 = DL \: rate \: variance[/tex]

rate variance $1,860.00

[tex](standard\:hours-actual\:hours) \times standard \: rate = DL \: efficiency \: variance[/tex]

std hours 6000.00

actual hours 6200.00

std rate $8.70

[tex](6,000 - 6,200) \times 8.70 = DL \: efficiency \: variance[/tex]

efficiency variance $(1,740.00)