If the actual wage rate is greater than the standard wage rate, is the direct labor price

Question:

If the actual wage rate is greater than the standard wage rate, is the direct labor price variance favorable or unfavorable? Why?

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

Step by Step Answer:

Related Book For book-img-for-question

Introduction To AccountingAn Integrated Approach

ISBN: 9781119600107

8th Edition

Authors: Penne Ainsworth, Dan Deines

See More Books

Question Posted: Apr 21, 2023 09:00 AM

See More Questions

Labor variance analysis is used primarily as a performance evaluation measure for responsible managers in a segment of a business. Labor variance occurs when the cost of labor or the amount of labor...
Overhead is the third category of manufacturing costs (Direct materials and direct labor are the other two.) subject to standard costing. We start with the overall overhead variance. Overhead is...
Ninna Company manufactures wooden shelves. An accountant for Ninna just completed the variance report for the current month. After printing the report, his computers hard drive crashed, effectively...
Verify that the functions are probability density functions for a continuous random variable X over the given interval. Determine the specified probability. f(x) = xe over [0, ), P(1 X 3)
You are planning to invest $2,500 today for three years at a nominal interest rate of 9 percent with annual compounding. a. What would be the future value (FV) of your investment? b. Now assume that...
Explain why users must be careful when relying on classification on the income statement provided by management.
Ken Francis is offered the possibility of investing $2,745 today and in return to receive $10,000 after 15 years. What is the annual rate of interest for this investment? (Use Table B.1.) AppendixLO1
Marin County Enterprises has a monopoly on the production of lunar-powered homes and has the normal U-shaped average cost curve. At its present profit-maximizing output and price, it is able to earn...
In the most recent fiscal year, Potter Industries reported current assets of $560,000; current liabilities of $85,250; long-term assets of $391,600; long-term liabilities of $250,125; stockholders'...
The Ploughman family owns and operates a 640-acre farm that has been in the family for several generations. The Ploughmans always have had to work hard to make a decent living from the farm and have...
If the actual price paid for direct materials is less than the standard price, is the direct materials price variance favorable or unfavorable? Why?
Explain the process of applying manufacturing overhead to Work-in-Process Inventory.
A 1.0-L container of liquid nitrogen is kept in a closet measuring 1.0 m by 1.0 m by 2.0 m. Assuming that the container is completely full, that the temperature is 25.0 C, and that the atmospheric...
Design a clocked D flip-flop, using a modified ECL circuit design, such that the output becomes valid on the negative-going edge of the clock signal.
An L2 steel strap having a thickness of 0.125 in. and a width of $2 \mathrm{in}$. is bent into a circular arc of radius $600 \mathrm{in}$. Determine the maximum bending stress in the strap.
Cars traveling from Canada to the United States through the Thousand Islands Border Crossing must stop for US Customs and Immigration. During the stop, each passenger in the car must present a...
Gasoline is pumped through a 2 in. sch 40 pipeline upward into an elevated storage tank at $60^{\circ} \mathrm{F}$. An orifice meter is mounted in a vertical section of the line, which uses a DP cell...
Change the recurring costs in Problem and Exercise 3 to $40,000 and redo the analysis. Problem and Exercise 3 Assume you are put in charge of launching a new website for a local nonprofit...
Green fluorescent protein (GFP), first isolated from bioluminescent jellyfish, is a protein containing 238 amino acid residues. The discovery of GFP has revolutionized the field of fluorescence...
Bobbie Singh provides writing services for small businesses. He blogs for companies that need professionally written content. His business records at November 15, 2023, are shown below: During the...
Distinguish between a generic market and a product market . Illustrate your answer.
Explain what market segmentation is.
List the types of potential segmenting dimensions, and explain which you would try to apply first, second, and third in a particular situation. If the nature of the situation would affect your...
Practice Problem 1 The stockholders equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,400 shares authorized) $264,000 Common Stock...
JVCU Which of the following is considered cash for financial reporting purposes? 1 JVCU Which of the following is considered cash for financial reporting purposes? 1
Required information The Foundational 15 [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, L08-10) (The following information applies to the questions displayed below.) Morganton Company makes one product...

If the actual wage rate is greater than the standard wage rate, is the direct labor price

Question:

Step by Step Answer:

If the actual wage rate is greater than the standard wage rate the direct labor price ...View the full answer

Introduction To AccountingAn Integrated Approach

Students also viewed these Business questions