Calculate the following variances for April, indicating whether each is favourable or unfavourable: i  direct labour rate variance for each labour class.  ii  direct labour efficiency variance for each labour class. b)  Discuss two advantages and two disadvantages of a standard costing system in which the standard direct labour rates per hour are not changed during the year to reflect events such as a new labour contract. ( maximum 150 words)

Jon Stone is paid $20 an hour for an 8-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, 5 days a week. Overtime premium is charged to Factory Overhead. Required: Using the labor-time record below: a. Compute Jerrod's total earnings for the week. b. Present the journal entry to distribute Jerrod's total earnings. Sunday Monday Tuesday Wednesday Thursday Friday Saturday ТОTAL Job F2 3 5 4 31 Job M1 1 3 6 14 Admin 1 3 6 TOTAL 8. 8. 8 10 51

IF AN EMPLOYEE PRODUCED 120 UNITS IN NINE HOURS ON A PARTICULAR DAY,WHAT IS THE EMPLOYEE'S PAY FOR THE DAY.

Applying Factory Overhead Salinger Company estimates that total factory overhead costs will be $90,000 for the year. Direct labor hours are estimated to be 15,000. a. For Salinger Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. $4 per direct labor hour b. During May, Salinger Company accumulated 660 hours of direct labor costs on Job 200 and 620 hours on Job 305. Determine the amount of factory overhead applied to Jobs 200 and 305 in May. $4 c. Prepare the journal entry to apply factory overhead to both jobs in May according to the predetermined overhead rate. If an amount box does not require an entry, leave it blank. 88

Fanning Corporation estimated its overhead costs would be $22,100 per month except for January when it pays the $207,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $229,220 ($207,120 + $22,100). The company expected to use 7,700 direct labor hours per month except during July, August, and September when the company expected 9,700 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company’s actual direct labor hours were the same as the estimated hours. The company made 3,850 units of product in each month except July, August, and September, in which it produced 4,850 units each month. Direct labor costs were $23.10 per unit, and direct materials costs were $10.30 per unit.Required Calculate a predetermined overhead rate based on direct labor hours. Determine the total allocated overhead cost for January, March, and August. Determine the…

The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for July are shown in the following schedule. Worker classification Standard Direct Labor Rate per Hour $60 Standard Direct Labor-Hours Allowed for Output 1,380 1,840 2,300 II 55 III 45 The wage rates for each labor class increased under the terms of a new contract. The standard wage rates were not revised to reflect the new contract. The actual direct labor-hours worked and the actual direct labor rates per hour experienced for the month of July were as follows. Actual Direct Labor Rate Worker Classification Actual Direct per Hour $64 Labor-Hours 1,470 II 58 1,950 2,380 III 46 Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances. b. Direct labor mix and yield variances.

During the first quarter, France Company incurs the following direct labor costs: January $53,600, February $51,700, and March $70,700. For each month, prepare the entry to assign overhead to production using a predetermined rate of 75% of direct labor cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Hello, Please provide the steps to solve the problem below: At the beginning of the year, a company estimates total overhead costs of $300,000. The company applies overhead using direct labor costs and estimates it will spend $1,200,000 on direct labor during the year. What amount of overhead should be applied to "Job C" if that job uses $65,000 of direct labor hours during April?

Cavy Company estimates that the factory overhead for the following year will be $927,200. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 24,400 hours. The machine hours for the month of April for all of the jobs were 5,210. If the actual factory overhead for April totaled $202,534, determine the over- or underapplied amount for the month. Enter the amount as a positive number.