Questions 61 to 63 are based on the following information: WIP-beg Starter in June Finished and...

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Questions 61 to 63 are based on the following information: WIP-beg Starter in June Finished and Transferred WIP-end 61. The labor rate variance: 300 units 2/3 completed 6,800 units 5,000 units ? units 1/5 completed 62. The labor efficiency variance using FIFO basis is 63. The labor efficiency variance using weigthed average basis is: 64. You are gien the following information concerning direct labor: Actual Direct labor hours worked Standard direct labor hourly rate 21,000 P8 Standard direct labor hours per unit 5 WIP-beg WIP-end Labor efficiency variance 0 200 units (60% complete) P6,000 unfavorable How many units were started and completed during the period: Question 65 to 71 are based on the following information: Standard Production time 2 hours per unit Actual production 900 units Standard labor rate P3 per hour Actual hours 1,810 P2.85 per hour Actual labor rate 65. What is the standard labor cost per unit of product 66. The actual labor cost for the actual production is 67. The standard cost of the actual hours worked is 68. The standard cost of labor for the actual production? 69. The total labor cost variance is 70. The labor efficiency variance? 71. The labor rate variance is Questions 72 to 75 are based on the following information: Actual cost of labor for the actual production P107,800 Standard cost of the actual hours 98,000 Standard cost of labor for the actual production 100,000 Actual labor rate P11 per hour 72. The labor cost variance is: 73. The labor efficiency variance is: 74. The labor rate variance is: 75. how many hours are allowed for the actual production: Questions 61 to 63 are based on the following information: WIP-beg Starter in June Finished and Transferred WIP-end 61. The labor rate variance: 300 units 2/3 completed 6,800 units 5,000 units ? units 1/5 completed 62. The labor efficiency variance using FIFO basis is 63. The labor efficiency variance using weigthed average basis is: 64. You are gien the following information concerning direct labor: Actual Direct labor hours worked Standard direct labor hourly rate 21,000 P8 Standard direct labor hours per unit 5 WIP-beg WIP-end Labor efficiency variance 0 200 units (60% complete) P6,000 unfavorable How many units were started and completed during the period: Question 65 to 71 are based on the following information: Standard Production time 2 hours per unit Actual production 900 units Standard labor rate P3 per hour Actual hours 1,810 P2.85 per hour Actual labor rate 65. What is the standard labor cost per unit of product 66. The actual labor cost for the actual production is 67. The standard cost of the actual hours worked is 68. The standard cost of labor for the actual production? 69. The total labor cost variance is 70. The labor efficiency variance? 71. The labor rate variance is Questions 72 to 75 are based on the following information: Actual cost of labor for the actual production P107,800 Standard cost of the actual hours 98,000 Standard cost of labor for the actual production 100,000 Actual labor rate P11 per hour 72. The labor cost variance is: 73. The labor efficiency variance is: 74. The labor rate variance is: 75. how many hours are allowed for the actual production:

Answer rating: 100% (QA)

Answer 61 The labor rate variance can be calculated using the formula Labor Rate Variance Actual Hours Worked Actual Rate Actual Hours Worked Standard ... View the full answer