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please help with this question and all the requirements. Thank You! Elegance is a manufacturer of large flower pots for urban settings. The company has
please help with this question and all the requirements. Thank You!
Elegance is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. xl DL rate variance Requirements X X Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. DL efficiency variance 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Requirement 2. What is the total variance for direct labor? (Enter the amount as a positive number. Label the variance as favorable (F) or unfavorable (U).) The total variance for direct laboris Print Done Requirement 3. Who is generally responsible for each variance? The X department is responsible for the labor rate variance. The department is responsible for the labor efficiency variance. Standard Price and Volume Requirement 4. Interpret the variances The labor rate variance means that Ceramics Etc.'s employees earned per hour than budgeted. Direct materials (resin) 8 pounds per pot at a cost of $3.00 per pound The labor efficiency variance means that it actually took direct labor hours than it should have to produce 1,600 pots. 2.0 hours at a cost of $11.00 per hour Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate $6.00 per direct labor hour $34.200 $11.00 per direct labor hour (DLH) Choose from any list or enter any number in the input fields and then continue to the next question. Print Done Elegance is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. x DL rate variance X Actual Results Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. DL efficiency variance Elegance allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: x Requirement 2. What is the total variance for direct labor? (Enter the amount as a positive number. Label the variance as favorable (F) or unfavorable (U).) Direct materials The total variance for direct laboris Requirement 3. Who is generally responsible for each variance? Direct labor Purchased 14,160 pounds at a cost of $3.40 per pound; Used 13,760 pounds to produce 1,600 pots Worked 2.4 hours per flower pot (3,840 total DLH) at a cost of $10.00 per hour $6.50 per direct labor hour for total actual variable manufacturing overhead of $24,960 The department is responsible for the labor rate variance. The department is responsible for the labor efficiency variance. Actual variable manufacturing overhead Requirement 4. Interpret the variances The labor rate variance means that Ceramics Etc.'s employees earned per hour than budgeted. $33,800 The labor efficiency variance means that it actually took direct labor hours than it should have to produce 1,600 pots. Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production $35,200 Print Done Choose from any list or enter any number in the input fields and then continue to the nextStep by Step Solution
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