Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please complete rest of table Part 4 - part 4 - part 5 - part 5 - urgent answer for thunbs up! Erle Company manufactures
Please complete rest of table
Erle Company manufactures a mobile fitness device called the Jogging Mate The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as fonows: Standard Hous 1 inte Standard Wate Pour 5 17.00 Standard Cost $ 3.10 During August, 5750 hours of direct labor time were needed to make 20.000 units of the Jogging Mater. The direct labor cost totaled $102.350 for the month Required: 1 What is the standard labor hours allowed (SH) to makes 20,000 Jogging Mates? 2. What is the standard labor cost allowed SHSR) to make 20,000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4 per direct lobor-hour, During August the company incurred 521850 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month (For requirements 3 through 5, indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 6,000 5 102.000 $ 3500 1 Standard labor hours allowed 2. Standard labor cost allowed 3 Labor spending van 4. Laborrate vanance 4 Labor cancy variance 5 Variable overhead rate variance S. Variable overhead efficiency variante TE F Standard Standard Rate Standard Hours per hour Cost 18 minutes $ 17.00 5.10 During August, 5750 hours of direct labor time were needed to make 20.000 units of the Jogging Mate. The direct labor cost totaled $102.350 for the month Required: 1. What is the standard lobor-hours allowed (SH) to makes 20,000 Jogging Motes? 2. What is the standard labor cost allowed (SHSR) to make 20.000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4 per direct labor hour. During August, the company incurred $21.850 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect fi.e., zero variance). Input all amounts es positive values. Do not round intermediate calculations.) 1 Standard labor hours allowed 2. Standard labor cost allowed 3. Labor spending variance 4 Labor rate variance 4. Labor eficiency variance 5 Variable overhead tate variance 5. Variable overhead officiency variance 6.000 $ 102.000 $ 350 ru IF F IF tabor standards that have been set for one Jogging Mate are as follow!! Standard Hours 1B inte Standard Rate per $ 17.00 Standard Cost $ 5.10 During August: 5.750 hours of direct labor time were needed to make 20.000 units of the Jogging Mate. The direct labor cost totaled $102,350 for the month Required: 1. What is the standard labor hours allowed (SH) to makes 20,000 Jogging Mates? 2. What is the standard labor cost allowed (SHSR) to make 20.000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4 per direct labor-hour. During August, the company incurred $21,850 in variable manufacturing overheed cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5. Indiente the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effectie, zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 6,000 5 102.000 $ 350 1 Standard labor hours afowed 2. Standard labor con lowed Labor spending vanance 4 Labot mate variance 4 Labor eficiency variance 5. Vantable overhead rate variance 5 Variable ovomead officiency variance F F Part 4 -
part 4 -
part 5 -
part 5 -
urgent answer for thunbs up!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started