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Direct Labor Type Mix SP Cost Fabricating 2 hrs. $20 $60 Assembly 3 12 30 Total 5 hrs. $90 Yield 25 units During the second
| Direct Labor Type | Mix | SP | ||||||||
| Cost | ||||||||||
| Fabricating | 2 | hrs. | $20 | $60 | ||||||
| Assembly | 3 | 12 | 30 | |||||||
| Total | 5 | hrs. | $90 | |||||||
| Yield | 25 | units | ||||||||
| During the second week in April, Redfield produced the following results: | ||||||||||
| Direct Labor | Type Actual Mix | |||||||||
| Fabricating | 20,000 | hrs. | ||||||||
| Assembly | 45,000 | |||||||||
| Total | 65,000 | hrs. | ||||||||
| Yield | 320,000 | units | ||||||||
| Required: | ||||||||||
| Instructions for parts 3 and 4: If a variance is zero, enter "0" and select "Not applicable" from the drop down box. | ||||||||||
| 1. Calculate the yield ratio. | ||||||||||
| 2. Calculate the standard cost per unit of the yield. Round your answers to the nearest cent. | ||||||||||
| per unit of yield | ||||||||||
| 3. Calculate the direct labor yield variance. | ||||||||||
| 4. Calculate the direct labor mix variance. | ||||||||||
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Wiley CIA Essentials Of Internal Auditing Part 1 Exam Review 2023
Authors: S. Rao Vallabhaneni
1st Edition
1119987148, 978-1119987147
