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0 Saved labor is $7.74 per hour. The company planned to make 8200 dolls during the year but actually used 13,000 hours of labor to
0 Saved labor is $7.74 per hour. The company planned to make 8200 dolls during the year but actually used 13,000 hours of labor to make 9,100 dolls. The payroll amounted to $105,170 Required a. Should labor variances be based on the planned volume of 8,200 dolls or the actual volume of 9,100 dolls? b. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. c. Compute the labor price variance and indicate whether it is favorable (F) or unfavorable (U) d. Compute the labor usage variance and indicate whether it is favorable (F) or unfavorable (U) Complete this question by entering your answers in the tabs below Req A Req BReq C and D Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. (Round "Standard price" and "Actual price" to 2 decimal places.) r Variance Information Table per hour Standard labor price Actual price Standard hours for flexible budget Actual hours used 8.0 per hour Req A Req C and D > EPIC Rooney's Doll Company produces handmade dolls. The standard amount of time spent on each doll is 1.50 hours. The standard cost of labor is $7.74 per hour. The company planned to make 8,200 dolls during the year but actually used 13,000 hours of labor to make 9,100 dolls. The payroll amounted to $105,17O Required o. Should labor variances be based on the planned volume of 8,200 dolls or the actual volume of 9,100 dolls? b. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. c. Compute the labor price variance and indicate whether it is favorable (F) or unfavorable (U) d. Compute the labor usage variance and indicate whether it is favorable (F) or unfavorable (U) Complete this question by entering your answers in the tabs below. Req A Req B Req C and D Compute the labor price and labor usage variances and indicate whether they are favorable (F or unfavorable (U), (Select None" if there is no effect (i.e., zero variance). Round your final answers to nearest whole dollar.) C. Total labor price variance Total labor usage vanance d. Req B
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