Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 450,000 bottles

image text in transcribed
image text in transcribed
Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 450,000 bottles were produced using 14,000 labor hours @ $10.00. The standard wage rate is $7.50 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent. $ 13,500 X Unfavorable Total Materials Variance Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.3 ounces of aluminum per can. During the month of April, 250,000 cans were produced using 1,350,000 ounces of aluminum. The actual cost of aluminum was $0.22 per ounce and the standard price was $0.14 per ounce. There are no beginning or ending inventories of aluminum Required: Calculate the total variance for aluminum for the month of April. Enter amount as a positive number and select Favorable or Unfavorable. $ -18,300 X Unfavorable

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

The Craft Of Auditing For Accounting Undergraduates

Authors: Eldar Maksymov

1st Edition

1516589890, 9781516589890

More Books

Students also viewed these Accounting questions

Question

1. Define the nature of interviews

Answered: 1 week ago

Question

2. Outline the different types of interviews

Answered: 1 week ago