Question
During May, your shoe-making company incurred actual direct labor costs of $69,069 for 7,590 hours of direct labor in the production of 2,225 pairs of
During May, your shoe-making company incurred actual direct labor costs of $69,069 for 7,590 hours of direct labor in the production of 2,225 pairs of shoes. Given this information, calculate the actual cost of labor per hour. If required, round the actual cost of labor per hour to the nearest cent.
Complete the following graphic to compute the direct labor rate variance, the direct labor time variance, and the total direct labor cost variance for your shoe-making business. When required, enter the rates as dollars and cents. If required, use the minus sign to indicate a negative value.
| Actual Cost | Standard Cost | |||||||||
| Actual Hours | x | Actual Rate | Actual Hours | x | Standard Rate | Standard Hours | x | Standard Rate | ||
| x | $ | x | $ | fill in the blank 6e0bfe08bfde02a_5 | x | $fill in the blank 6e0bfe08bfde02a_6 | ||||
| = | $ | = | $ | = | $fill in the blank 6e0bfe08bfde02a_9 | |||||
| Direct Labor Rate Variance | Direct Labor Time Variance | |||||||||
| $fill in the blank 6e0bfe08bfde02a_10 | - | $fill in the blank 6e0bfe08bfde02a_11 | $fill in the blank 6e0bfe08bfde02a_12 | - | $fill in the blank 6e0bfe08bfde02a_13 | |||||
| = | $fill in the blank 6e0bfe08bfde02a_14 | = | $fill in the blank 6e0bfe08bfde02a_16 | |||||||
| Total Labor Cost Variance | ||||||||||
| $fill in the blank 6e0bfe08bfde02a_18 | - | $fill in the blank 6e0bfe08bfde02a_19 | ||||||||
| = | $fill in the blank 6e0bfe08bfde02a_20 | |||||||||
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
