Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following labor standards have been established for a particular product: 9.2 hours Standard labor-hours per unit of output Standard labor rate $13.00 per hour

image text in transcribed

image text in transcribed

The following labor standards have been established for a particular product: 9.2 hours Standard labor-hours per unit of output Standard labor rate $13.00 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost 7,000 hours $88,200 950 units Actual output What is the labor efficiency variance for the month? Next > Prey 10 of 50 Xam Saved Help Save & Exit Su Kibodeaux Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Inputs Direct materials 8.1 liters $64.80 Direct labor 0.3 hours $9.30 $8.00 per liter $31.00 per hour $3.00 per hour Variable overhead 0.3 hours $.90 The company budgeted for production of 4,100 units in June, but actual production was 4,200 units. The company used 33.600 liters of direct material and 1,180 direct labor-hours to produce this output. The company purchased 35,600 liters of the direct material at $7.90 per liter. The actual direct labor rate was $31.60 per hour and the actual variable overhead rate was $2.80 per hour. Next > Prev 20 of 50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

Students also viewed these Accounting questions

Question

Give eye contact, but do not stare.

Answered: 1 week ago