Question
STANDARD COST SYSTEM LABOR VARIANCE The following computations of March labor variances for Sam's Supply Company are incomplete. The missing items are labeled (a) through
- STANDARD COST SYSTEM LABOR VARIANCE
The following computations of March labor variances for Sam's Supply Company are incomplete. The missing items are labeled (a) through (d).
Labor rate variance = 4,800 hours [(a) - $8.50] = $350 favorable
Labor efficiency variance = (b) [(c) - 5,000 hours] = $(d)
On the appropriately labeled line, identify each missing item by name (a through c) and show the missing value (a through d). Show supporting computations in the space provided.
- _________________________ $_______________
- _________________________ $_______________
- _________________________ ____________________ hours
- $______________ F or U [Choose the correct term.]
- During March, the supervisor left for vacation without arranging for a replacement. Which variances would have been most affected by this situation? _______________________
Computations:
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Managerial Accounting The Cornerstone Of Business Decision Making
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
8th Edition
0357715349, 978-0357715345
