Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of

Direct Labor Variances

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available:

Quantity of direct labor used 450 hrs.
Actual rate for direct labor $14.40 per hr.
Bicycles completed in October 210 bicycles
Standard direct labor per bicycle 2 hrs.
Standard rate for direct labor $14.70 per hr.

a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Direct Labor Rate Variance $fill in the blank 1 Favorable
Direct Labor Time Variance $fill in the blank 3 Unfavorable
Total Direct Labor Cost Variance $fill in the blank 5 Unfavorable

b. How much direct labor should be debited to Work in Process?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Beating The Finacial Futures Market 2023 Deluxe Edition Almanac

Authors: Art Collins

1st Edition

979-8375310534

More Books

Students also viewed these Accounting questions

Question

Which field has the highest average (mean)?

Answered: 1 week ago

Question

Explain in detail how the Mughal Empire was established in India

Answered: 1 week ago

Question

Problem: Evaluate the integral: I - -[ze dx

Answered: 1 week ago

Question

Problem: Evaluate the integral: I = 1- 1 dx 9

Answered: 1 week ago