Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The standard cost of product 2525 includes 2.60 hours of direct labour at $14.40 per hour. The predetermined overhead rate is $20.00 per direct labour

image text in transcribed

The standard cost of product 2525 includes 2.60 hours of direct labour at $14.40 per hour. The predetermined overhead rate is $20.00 per direct labour hour. During July, the company incurred 6,340 hours of direct labour at an average rate of $14.70 per hour and $122,400 of manufacturing overhead costs. It produced 2,400 units. (a) Calculate the total, price, and quantity variances for labour. (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answers to 0 decimal places, e.g. 125.)

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

Auditing

Authors: Alan H. Millichamp

8th Edition

082645500X, 9780826455000

More Books

Students also viewed these Accounting questions

Question

What are the six phases of the general design process?

Answered: 1 week ago