Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data is given for the Harry Company: Budgeted production 1,016 units Actual production 955 units Materials: Standard price per ounce $1.98 Standard ounces

The following data is given for the Harry Company:

Budgeted production 1,016 units
Actual production 955 units
Materials:
Standard price per ounce $1.98
Standard ounces per completed unit 11
Actual ounces purchased and used in production 10,190
Actual cost of materials $20,890
Labor:
Standard hourly labor rate $14.00 per hour
Standard hours allowed per completed unit 4.0
Actual labor hours worked 4,918
Actual total labor costs $75,000
Overhead:
Actual and budgeted fixed overhead $1,108,416
Standard variable overhead rate $28.00 per standard labor hour
Actual variable overhead costs $137,704
Overhead is applied on standard labor hours.

Determine the direct labor rate variance.

Select the correct answer.

$21,520 U
$15,372 F
$6,148 U
$15,372 U

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

Understanding Financial Accounting

Authors: Christopher D. Burnley

2nd Canadian Edition

1119406927, 978-1119406921

More Books

Students also viewed these Accounting questions

Question

Identify reasons for choosing qualitative methods.

Answered: 1 week ago

Question

Explain the various methods of job evaluation

Answered: 1 week ago

Question

Differentiate Personnel Management and Human Resource Management

Answered: 1 week ago

Question

Describe the functions of Human resource management

Answered: 1 week ago

Question

What are the objectives of Human resource planning ?

Answered: 1 week ago

Question

Peoples understanding of what is being said

Answered: 1 week ago

Question

The quality of the proposed ideas

Answered: 1 week ago