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a. Calculate the materials quantity variance for Job Alpha: b. Calculate the labor rate variance for Job Alpha: c. Calculate the labor efficiency variance for
a. Calculate the materials quantity variance for Job Alpha:
b. Calculate the labor rate variance for Job Alpha:
c. Calculate the labor efficiency variance for Job Alpha:
A company has the following information for Job Alpha during July: Units produced Actual materials used (and purchased) Actual materials cost Actual labor hours incurred Actual labor rate Work in process, July 1 Work in process, July 31 1,000 5,250 lbs. $ 4.80 per lb. 2,552 $ 21.25 per hour $ $ The company applies manufacturing overhead to jobs based on direct labor hours. Additional information for the company in July is as follows: $ Total estimated labor hours Standard materials per unit Standard materials cost Standard labor hours per unit Standard labor rate Standard variable overhead Standard fixed overhead* *based on 45,232 labor hours Actual total output in uni Actual total labor hours Actual variable overhead Actual total fixed overhead 45,232 5.00 lbs. 5.00 per lb. 2.75 hours 22.00 per hour 3.00 per labor hour 5.00 per labor hour $ $ $ 16,500 43,725 $ 2.90 per labor hour $ 220,000Step by Step Solution
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