What is the Standard Yield of the group ? What is the labor Idle time variance for Unskilled labour ? What is the labor Idle time variance for Semi skilled labour ? A gang of usually consists of 20 skilled workers, 15 semi-skilledworkers and 10 unskilled with a standard rate of RO. 5, RO. 3 and RO. 2respectively. The group is expected to produce 1200 units of a productin a 30 hour week.First week of August, the group consist of 15 skilled workers, 12 semi-skilled workers and 10 unskilled workers produced only 1000 units. Theactual hourly rate paid for the group was RO. 4, RO. 3, RO. 2respectively. Due to an industrial accident, the group could not work for3 hours in the same week. You are required to prepare all the laborvariances and answer the following questions.

Name: What is the Standard Yield of the group ? What is the labor Idle time
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Description: What is the Standard Yield of the group ? What is the labor Idle time variance for Unskilled labour ? What is the labor Idle time variance for Semi skilled labour ? A gang of usually consists of 20 skilled workers, 15 semi-skilledworkers and 10 unski

Given Information: Standard Skilled Worker :20 Semi -Skilled :15 Unskilled :10 Standard…

Answered: 3 hours in the same week. You are…

Business

Accounting

3 hours in the same week. You are required to prepare all the labor variances and answer the following questions.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8EB: Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450...

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Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and administrative costs next year. Direct labor costs at 5 per hour are expected to total 50,000. If factory overhead is to be applied per direct labor hour, how much overhead will be applied to a job incurring 20 hours of direct labor? a. 120 b. 260 c. 28 d. 140
Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?
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Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?