Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information relates to Questions 1 to 2. A manufacturing company has set the following standards for the production of one unit of product.

image text in transcribed

The following information relates to Questions 1 to 2. A manufacturing company has set the following standards for the production of one unit of product. However, some information was accidentally deleted by a new accounts clerk. The budgeted number of units to be produced for the month of June is 500. Direct labour rate ($ per hr): 6.5 Direct labour hours per unit of product (hr): ? The actual production for the month of June amounted to 510 units, and the actual data recorded for the month are as follows: Direct labour rate ($ per hr): ? Direct labour hours per unit of product (hr): 3.3 The following variances have been reported for the month of June: Direct labour rate variance ($): 2, 100 U Direct labour efficiency variance ($): -1, 470 F Question 1 What is the actual labour rate per hour? Round to 2 dec places if required. $ per kg Question 2 What is the standard direct labour hour per unit of product? Round to 2 dec places if required. 0 hrs per unit of product

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

Financial Accounting An Integrated Statements Approach

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

2nd Edition

324312113, 978-0324312119

More Books

Students also viewed these Accounting questions

Question

explain the need for human resource strategies in organisations

Answered: 1 week ago

Question

describe the stages involved in human resource planning

Answered: 1 week ago