Lion Company 's direct labor costs for the month of January 20XX were as follows Compute the labor usage (efficiency) variance Actual direct labor hours Standard hours allowed Labor rate variance, unfavorable Total payrol 20,000 21,000 $ 3,000 $126,000...

The Answer is in the image, click to view ...

Lion Company's direct labor costs for the month of January 20XX were as follows: Compute the labor

Question:

Lion Company's direct labor costs for the month of January 20XX were as follows: image text in transcribed

Compute the labor usage (efficiency) variance.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cost Accounting For Managerial Planning Decision Making And Control

ISBN: 9781516551705

6th Edition

Authors: Woody Liao, Andrew Schiff, Stacy Kline

See More Books

Question Posted: May 17, 2024 03:02 AM

See More Questions

14. The Centipede Company uses standard costing. The following data are available for October: Actual quantity of direct materials used 23,500 pounds Standard price of direct materials P 2 per pound...
Company ABC has two segments: hard drive and cloud drive. The company tracks the time of processing orders for two segments. The average times were recorded as follows: Hard Drive Segment Queue Time...
The Brown Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to...
QI: Obtain the closed loop transfer function for the system whose block diagram is shown in fig.(1) 3 Y(s) 2 +. X(s) s+2 s+2 s+2 Fig. (1)
Show that Wn is chromatically 4-critical whenever n is an odd integer, n 3.
Rewrite the loop from Exercise 2.29 to reduce the number of MIPS instructions executed. Exercise 2.29 Translate the following loop into C. Assume that the C-level integer i is held in register $t1,...
What circumstances might influence the growth or shrinkage of the nonprofit sector?
Lee Financial Services pays employees monthly. Payroll information is listed below for January 2011, the first month of Lees fiscal year. Assume that none of the employees exceeded any relevant wage...
At the end of Year 5 the following information is available for Billings and Phoenix companies: Billings Phoenix Sales $ 1,212,000 $ 1,150,640 Cost of goods sold 800,000 878,000 Operating expenses...
Information on Kennedy Company's direct material costs is as follows: Compute the actual purchase price per unit. Standard unit price......... Actual quantity purchased... Standard quantity allowed...
Home Company manufactures tables with vinyl tops. The standard material cost for the vinyl user per Type-R table is $\$ 7.80$ based on six square feet of vinyl at a cost of $\$ 1.30$ per square...
Suppose that in the 5 days following a farmer's sale of September wheat futures at a futures prices of $9.83 the futures price is: At the end of day 5 the farmer decides to quit wheat farming and...
The European Central Bank (ECB) aims to decrease the risk-free interest rate in Europe by 4%, from roughly 3% to about 1%, for the next 2 to 3 weeks or so. (Note that this is a temporary, short-term...
When would you choose to implement distributed databases, rather than local databases? Would you go for this design if all your computers were localized in one building? What if they are spread out...
Suppose a firm shows the following values related to its capital structure, some of which come from the firm's Balance Sheet and Income Statement (note: the firm's long-term debt is comprised...
research document databases and answer the following questions: What are document databases? What are collections? What are the key differences between relational and non-relational database...
Consider the long-run cost curve below. The upward-sloping portion on the right side illustrates Cost (in dollars) ATC Long-Run Cost Curve ATC ATC ATC ATC ATC. 0 150 275 350 450 650 800 900 Quantity...
Consider the power plant as described in Problem 6.102. a. Determine the temperature of the water leaving the intermediate pressure heater, T13, assuming no heat transfer to the surroundings. b....
The comparative statements of financial position of Menachem NV at the beginning and end of the year 2019 appear below. Net income of ¬34,000 was reported, and dividends of ¬23,000 were paid...
An analyst for Bloom Ltd, gathered the following information with regards to futures contract: Current spot-market price of R60 Risk-free interest rate of 8.87% per annum The six-month future...
In a game, participants spin a wheel to win a prize. The wheel is split into 10 sections showing how much money participants can win. Six wedges show $0, two wedges show $100, one wedge shows $300...
I am having difficulty with an assignment. I got a few wrongs. - I have to identify whether a variable is present or not. I have to choose between: category or qualitative quantitative, or it is not...

Lion Company's direct labor costs for the month of January 20XX were as follows: Compute the labor

Question:

Actual direct labor hours... Standard hours allowed......... Labor rate variance, unfavorable. Total payrol................. 20,000 21,000 $ 3,000 $126,000

Step by Step Answer:

Cost Accounting For Managerial Planning Decision Making And Control

Students also viewed these Business questions