Answer A,B,C,D
Baird'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 $7.76 per hour. The company planned to make 7,600 dolls during the year but actually used 11,900 hours of labor to make 8,700 dolls. The payroll amounted to $95,081. Required a. Should labor variances be based on the planned volume of 7,600 dolls or the actual volume of 8,700 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. Should labor variances be based on the planned volume of 7,600 dolls or the actual volume of 8,700 dolls? Baird'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 $7.76 per hour. The company planned to make 7,600 dolls during the year but actually used 11,900 hours of labor to make 8,700 dolls. The payroll amounted to $95,081. Required a. Should labor variances be based on the planned volume of 7,600 dolls or the actual volume of 8,700 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. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. Note: Round "Standard price" and "Actual price" to 2 decimal places. Baird'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 $7.76 per hour. The company planned to make 7,600 dolls during the year but actually used 11,900 hours of labor to make 8,700 dolls. The payroll amounted to $95,081. Required a. Should labor variances be based on the planned volume of 7,600 dolls or the actual volume of 8,700 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. Compute the labor price and labor usage variances and indicate whether they are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Round your final answers to nearest whole dollar
