{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:13:24-04:00", "answer_date": "2024-06-29 02:13:24", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4446500", "url": "\/study-help\/questions\/the-following-labour-and-variable-overhead-standards-have-been-established-4446500", "question_creation_date_js": "2024-06-29T02:13:24-04:00", "question_creation_date": "Jun 29, 2024 02:13 AM", "meta_title": "[Solved] The following labour and variable overhea | SolutionInn", "meta_description": "Answer of - The following labour and variable overhead standards have been established for a particular product: Please note that | SolutionInn", "meta_keywords": "labour,variable,overhead,standards,established,product,note,applied,basis,direct,hours,standard", "question_title_h1": "The following labour and variable overhead standards have been established for a particular product: Please note that variable overhead is applied on the basis of", "question_title": "The following labour and variable overhead standards have been established for a", "question_title_for_js_snippet": "The following labour and variable overhead standards have been established for a particular product Please note that variable overhead is applied on the basis of direct labour hours DIRECT LABOUR Standard labour hours per unit of output 8 3 hours Standard labour rate $12 15 per hour Variable Overhead rate $5 25 per DLH The following data pertain to operations concerning the product for the last month Actual hours worked 6,100 hours Actual total labour cost $71,370 Actual output 900 units MOH VC Actual $4 80 per DLH Actual Variable OH Cost $29,280 Actual Fixed OH $15,250 Budgeted Fixed OH $12,500 Applied Fixed OH $13,750 a)What were the labourvariances for the month Clearly indicate whether they were Favourable (F), or, Unfavourable (U) b)What were the Variable Overhead variances for the month Clearly indicate whether they were Favourable (F), or, Unfavourable (U) c) Fixed OH Actual Budget Applied", "question_description": "

The following labour and variable overhead standards have been established for a particular product: Please note that variable overhead is applied on the basis of direct<\/u> labour hours<\/u><\/strong><\/p>

<\/strong><\/p>

DIRECT LABOUR<\/strong><\/p>

<\/p>

Standard labour hours per unit of output<\/p><\/td>

8.3 hours<\/p><\/td> <\/tr>

Standard labour rate<\/p><\/td>

$12.15 per hour<\/p><\/td> <\/tr>

Variable Overhead rate <\/strong><\/p><\/td>

$5.25 per DLH<\/strong><\/p><\/td> <\/tr> <\/tbody><\/table><\/figure>

<\/p>

The following data pertain to operations concerning the product for the last month:<\/p>

<\/p>

Actual hours worked<\/p><\/td>

6,100 hours<\/p><\/td> <\/tr>

Actual total labour cost<\/p><\/td>

$71,370<\/p><\/td> <\/tr>

Actual output<\/p><\/td>

900 units<\/p><\/td> <\/tr>

<\/p>

MOH -VC Actual: $4.80 per DLH<\/p>

Actual Variable OH Cost: $29,280<\/p>

Actual Fixed OH: $15,250<\/p>

Budgeted Fixed OH: $12,500<\/p>

Applied Fixed OH:$13,750 <\/p>

<\/p> <\/td>

<\/p><\/td> <\/tr> <\/tbody><\/table><\/figure>

<\/p>

a)What were the labourvariances for the month? Clearly indicate whether they were Favourable (F), or, Unfavourable (U)<\/p>

b)What were the Variable Overhead variances for the month? Clearly indicate whether they were Favourable (F), or, Unfavourable (U)<\/p>

c) Fixed OH:<\/p>

<\/p>

Actual Budget Applied<\/p><\/td><\/tr>

<\/p><\/td><\/tr>

<\/p><\/td><\/tr>

<\/p><\/td><\/tr>

<\/p><\/td><\/tr> <\/tbody><\/table><\/figure>

<\/p>

<\/p>", "transcribed_text": "", "related_book": { "title": "Principles Of Finance", "isbn": "979-8439388899", "edition": "1st Edition", "authors": "Julie Dahlquist, Rainford Knight", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/6290aa2348f9a_11251.jpg", "uri": "\/textbooks\/principles-of-finance-1st-edition-9798439388899", "see_more_uri": "" }, "free_related_book": { "isbn": "3319978543", "uri": "\/textbooks\/the-british-in-argentina-commerce-settlers-and-power-1800-2000-1st-edition-9783319978543-9783319978550", "name": "The British In Argentina Commerce Settlers And Power 1800\u20132000", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:13:24", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/sample-of-23392u-t12-1.59-x-105yr-contains", "description": "A sample of 233\/92U (T = 1.59 X 105yr) contains 7.50 X 1019 nuclei. (a) What is the decay constant? (b) Approximately how many disintegrations will occur per minute?", "stars": 3 }, { "url": "\/study-help\/psychology\/what-problems-have-i-solved-what-skills-did-that-show-1982723", "description": "What problems have I solved? What skills did that show?", "stars": 3 }, { "url": "\/match-the-ratio-to-the-building-block-of-financial-statement", "description": "Match the ratio to the building block of financial statement analysis to which it best relates. A. Liquidity and efficiency B. Solvency C. Profitability D. Market prospects 1. _______ Gross margin...", "stars": 3 }, { "url": "\/study-help\/questions\/a-framework-manager-model-is-organized-into-multiple-modeling-layers-9860191", "description": "A Framework Manager model is organized into multiple modeling layers. Which layer should be used to add business rules, such as calculations and filters that define the information users can...", "stars": 3 }, { "url": "\/study-help\/questions\/1the-goal-of-not-overstating-assets-or-earnings-stems-from-1552517", "description": "1--The goal of not overstating assets or earnings stems from orhas its basis in the ________________ principle\/concept.2--Explain the materiality concept.3--The disclosure principle states that a b 2...", "stars": 3 }, { "url": "\/study-help\/questions\/in-2-0-2-3-sterling-and-lana-archer-1011795", "description": "In 2 0 2 3 , Sterling and Lana Archer ( ages 3 1 and 2 9 ) are married and live in New York, NY . Their address is 8 8 0 5 th Ave Unit 2 2 A , New York, NY 1 0 0 2 1 . They have a two - year - old...", "stars": 3 }, { "url": "\/study-help\/questions\/solve-the-following-14-3-2tt-5x-1-15-x-1000853", "description": "Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X", "stars": 3 }, { "url": "\/study-help\/questions\/describe-why-it-is-important-for-a-rural-communitys-municpal-1002806", "description": "Describe why it is important for a rural community\\'s municpal government to perform a strategic planning process every five to seven years?", "stars": 3 }, { "url": "\/study-help\/questions\/question-21-2-pts-zapps-inc-purchased-equipment-for-60000-999379", "description": "Question 21 2 pts Zapp's Inc. purchased equipment for $60,000 on January 1, 2021. The salvage value is $1,400, and the estimated useful life is 5 years. The company usually uses the double- declining...", "stars": 3 }, { "url": "\/study-help\/questions\/think-about-the-technology-youve-had-access-to-as-an-999705", "description": "Think about the technology you've had access to as an employee or as a student. This can include applications, systems, portals, etc. Which technology did you use the most? What types of technology...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/prior-corp-produces-chairs-it-requires-5-feet-of-wood-4446499", "next": "\/study-help\/questions\/can-you-calculate-the-ratio-of-the-company-1-liquidity-4446501" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "The following labour and variable overhead standards have been established for a", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-following-labour-and-variable-overhead-standards-have-been-established-4446500" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }