The following data relate to labor cost for production of smart telephones: Actual:4,200 hrs. at $17.20 .....

Question:

The following data relate to labor cost for production of smart telephones:

Actual:4,200 hrs. at $17.20 ..... $72,240

Standard: 4,260 hrs. at $16.75 .... $71,355

a. Determine the rate variance, time variance, and total direct labor cost variance.

b. Discuss what might have caused these variances.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Survey of Accounting

ISBN: 978-1133189121

6th edition

Authors: Carl S Warren

See More Books

Question Posted: Feb 04, 2014 08:07 AM

See More Questions

The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00. a. Determine the direct labor rate variance, direct...
The following data relate to labor cost for production of 22,000 cellular telephones: Actual: ..........................4,220 hrs. at $44.50 Standard: ......................4,160 hrs. at $46.00 a....
The following data relate to labor cost for production of 12,500 cellular telephones: Actual: 17,350 hours at $18.16 ..........$315,076 Standard: 17,500 hours at $18.00 ......... $315,000 a....
If the interest rate on debt is lower than ROA, then a firm will Valitse yksi: a. increase ROE b. not change ROE c. none of these is correct d. decrease ROE e. change the ROE in an indeterminable...
Complete the molecular orbital description for the ground state of cyclopentadiene shown at right. Shade the appropriate lobes to indicate phase signs in each molecular orbital according to...
Carla Lopez deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement...
According to SFAS 131, which of the following is an acceptable grouping of countries for provid ing information by geographic area? LO3 a. United States, Mexico, Japan, Spain, All Other Countries. b....
Listed below are several terms and phrases associated with leases. Pair each item from List A with the item from List B (by letter) that is most appropriately associated withit. List A List B --1....
Mr. Andrews worked for a large oil and gas company. He is always pushing for more and bigger projects as he estimates that the price of oil will consistently "break through the roof in the near and...
A common justification for mergers of competitors are the potential cross-selling opportunities they provide. Comment on the challenges that might be involved in making such a marketing strategy work.
H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (6,000 pounds) has the following standards: The actual materials in a batch may vary from the standard...
Death Valley Bicycle Company manufactures mountain bikes. The following data for October of the current year are available: Quantity of direct labor used 1,100 hrs. Actual rate for direct labor...
Loan amount is $\$ 125,800$, interest rate is $6.5 \%, 30$-year mortgage. Find the cost of financing for the mortgages if they are fully paid.
3. Given the continuous beam shown below, which span or spans should be loaded with a uniform distributed load to produce a maximum moment at support B? (5 points) SPAN 1 SPAN 2 SPAN 3 A B D 20 ft...
Complete the following writing assignment: Analyze the attached 10_pages. Write_about them, summarize what you read, and connect it to personal experiences. CHAPTER 8 Anxiety Disorders DAVID P....
As a manager of an airline company you want to learn the average weight of luggages checked in on a flight. From a sample of 1 6 luggages, you find the average to be 2 6 kg and the standard deviation...
What is the Manufacturing Cycle Efficiency? 11. Use High-Low to find the fixed and variable costs. Machine Month Costs Hours 12345678 $1,730,890 15,820 $1,753,860 13,980 $1,562,890 11,550 4...
Jimmy Padilla purchased a gravel pit in the current year for $944,232 and estimates that there will be a residual value in the land of $36,404 once resource extraction is complete. He estimates that...
Sales Discount Recorded} Columbia Company provided services with a list price of $\$ 48,500$ to Small Enterprises with terms $2 / 15, \mathrm{n} / 45$. Columbia records sales to be reported in...
One Way Cellular accountants have assembled the following data for the year ended September 30, 2014: Prepare the operating activities section using the indirect method for One Way Cellulars...
Even though the fault current is not symmetrical and not strictly periodic, the rms asymmetrical fault current is computed as the rms ac fault current times an "asymmetry factor," which is a function...
Indicate whether the following error would cause the accounting equation to be out of balance and, if so, indicate how it would be out of balance. The payment of utilities of $3,700 was recorded as a...
For each of the following errors, indicate whether the error would cause the accounting equation to be out of balance and, if so, indicate how it would be out of balance. (a) The purchase of land for...
Millstone Consulting Services acquired land 8 years ago for $100,000. Millstone recently signed an agreement to sell the land for $375,000. In accordance with the sales agreement, the buyer...
You are evaluating a new project for the firm you work for, a publicly listed firm. The firm typically finances new projects using the same mix of financing as in its capital structure, but this...
state, "The subscription price during a rights offering is normally r; lower ; lower r; higher er; higher than the rights-on price and
Arnold inc. is considering a proposal to manufacture high end protein bars used as food supplements by body builders. The project requires an upfront investment into equipment of $1.4 million. This...

The following data relate to labor cost for production of smart telephones: Actual:4,200 hrs. at $17.20 .....

Question:

Step by Step Answer:

a Rate variance Direct Labor Rate Variance Actual Rate per Hour Standard Rate per Hour Actual Hours ...View the full answer

Survey of Accounting

Students also viewed these Managerial Accounting questions