COST ACCOUNTINGPLS SHOW SOLUTION 10. Data on King Company's direct-labor costs is given below:Standard direct labor hours30,000Actual direct labor hoursDirect labor usage (efficiency) variance-favorableDirect labor rate variance -favorable29,000P 4,000P 5,800P 110, 200Total payrollREQUIRED: What was King's actual and standard direct labor rate?Actual Direct labor RateStandard Direct Labor RateP0.60P 3.54а.Р 3.80P 4.00P 5.80b.P 4.00Р 3.80с.d.P 5.80

Solution: Direct labor efficiency variance = P4,000 F Standard direct labor hours = 30000 Actual…

10. Data on King Company's direct-labor costs is given below: Standard direct labor hours 30,000 29,000 Actual direct labor hours Direct labor usage (efficiency) variance-favorable Direct labor rate variance -favorable Total payroll P 4,000 P 5,800 P 110, 200 REQUIRED: What was King's actual and standard direct labor rat Actual Direct labor Rate Standard Direct Labor Rat a. P0.60 P 3.54 Р 3.80 P 4.00 P 5.80 P 4.00 P 3.80 b. с. d. P 5.80

10. Data on King Company's direct-labor costs is given below: Standard direct labor hours 30,000 29,000 Actual direct labor hours Direct labor usage (efficiency) variance-favorable Direct labor rate variance -favorable Total payroll P 4,000 P 5,800 P 110, 200 REQUIRED: What was King's actual and standard direct labor rat Actual Direct labor Rate Standard Direct Labor Rat a. P0.60 P 3.54 Р 3.80 P 4.00 P 5.80 P 4.00 P 3.80 b. с. d. P 5.80

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

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Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?
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