Chapter 24

This is what you fill in under quantity variance.

This is what you fill in under price variance column one

This is what you fill in under price variance column two

These are your options for the top box that needs to be filled in with the date

Question 7 During March 2020, Nash Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Actual Standard Job Number Hours Costs Hours Costs Total Variance A257 A258 200 430 300 $4,000 9,460 6,300 1,900 205 $4,100 420 8,400 298 5,960 95 $100 F 1,060 U 340 U OF A259 A260 100 1,900 Total variance $1,300 U Analysis reveals that Job A257 was a repeat job. Job A258 was a rush order that required overtime work at premium rates of pay. Job A259 required a more experienced replacement worker on one shift. Work on Job A260 was done for one day by a new trainee when a regular worker was absent. Prepare a report for the plant supervisor on direct labor cost variances for March. (Round actual rate and standard rate to 2 decimal places, e.g. 10.50.) NASH TOOL & DIE COMPANY Direct Labor Variance Report Job No. Actual Hours Standard Hours Quantity Variance Actual Rate Standard Rate Price Variance Price Variance A257 $ $ $ $ A258 $ $ A259 $ $ A260 $ $ Totals $ $ Click if you would like to Show Work for this question: Open Show Work Quantity Variance $ Favorable Unfavorable Neither favorable nor unfavorable HA $ $ Price Variance Unfavorable Favorable Neither favorable nor unfavorable Price Variance New Trainee Rush Job Repeat Job Replacement Worker NASH TOOL & DIE COMPANY Direct Labor Variance Report For the Year Ended March 31, 2020 For the Month Ended March 31, 2020 March 31, 2020 $ $