Calculating labor variances Martin, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hours per glass, at a cost of $18 per hour. The actual results for one month’s production of 6,500 glasses were 0.2 hours per glass, at a cost of $11 per hour. Calculate the direct labor cost variance and the direct labor efficiency variance.

Q: Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hour.…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor…

Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…

A: Direct labor cost variance =  Direct labor rate variance + Direct labor time variance

Q: Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds…

A: Material cost variance shows difference in standard cost and actual cost of materials due to various…

Q: Direct Labor Variances Bellingham Company produces a product that requires 2 standard direct labor…

A: Cost variances are the deviations of the actual data from the standard data prepared. These…

Q: Actual fixed overhead expenditure in for the same period is C70,000. The labour force manages to…

A: The fixed overhead expenditure variance = Budgeted overhead - Actual overhead  If the budgeted…

Q: Materials and Labor Variances At the beginning of the year, Craig Company had the following standard…

A: Direct labor variances: The difference between the actual labor cost in the production and the…

Q: Direct Labor Variances Bellingham Company produces a product that requires 6 standard hours per…

A: a. Direct labor rate variance =Actual hours *(Actual rate - standard rate)…

Q: Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce…

A: Standard costing: Under this costing setting of the predetermined estimate of costs and the…

Q: Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard…

A: Solution:-a Calculation of labor rate variance as follows under:-

Q: Brookman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hour per​…

A: Standard hours means standard hours for actual output  = 6800×0.5 =3400 hours

Q: Actual Labor Rate Actual Labor Hours Used Dark chocolate $14.60 per hr. 1,120 Light chocolate 15.40…

A: As per the we guidelines we can provide the answer for part 1.  If need answer for remaining part…

Q: Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds…

A: The variances refers to the difference between the budgeted amount and the actual amount. It may be…

Q: Bellingham Company produces a product that requires eight standard pounds per unit. The standard…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Comprehensive Variance Analysis Marvel Parts Inc. manufactures auto accessories. One of the…

A: Direct material variances:   The difference between the actual material cost per unit and the…

Q: The standards for product V28 call for 7.5 pounds of a raw material that costs $18.10 per pound.…

A: Given,

Q: Overhead Variances At the beginning of the year, Lopez Company had the following standard cost…

A: Variance occurs whenever there is difference in the usage of materials or time taken or the actual…

Q: Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard…

A: The variance is the difference between the standard and actual production data .

Q: Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce…

A: working for 1 Standard labor hours for Budgeted production will be =   Formula = Budgeted production…

Q: Haku Comprehensive Inc had the following variances for the most recent month: Materials Price…

A: The direct material price variance implies a difference between the actual price and the standard…

Q: Direct labor variances Yealink Company produces a product that requires 2 standard direct labor…

A: Direct Labour Cost Variance :— It is the variance between actual cost and standard cost for actual…

Q: Direct Materials Variances Bellingham Company produces a product that requires 16 standard pounds…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a…

A: a. Direct labor rate variance = -$68,200 F b. Direct labor time variance = $306,600 U c. Direct…

Q: Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled…

A: Direct labor cost variance is the difference between the standard cost for actual production and the…

Q: Overhead Variances At the beginning of the year, Lopez Company had the following standard cost…

A: Standard labor hours  = Standard labor hours per unit x Actual units produced   Applied Fixed…

Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…

A: Variance is the difference in the value of budgeted cost\quantity\price and the actual…

Q: Variance Analysis Problem Avatar, Inc. has prepared the following standard cost sheet for one unit…

A: Variances signifies the variation between the budgeted or estimated costs and the actual costs.

Q: Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor…

A: Direct labour cost variance arises when there is a difference between standard cost of labour and…

Q: Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard…

A: Labor rate variance = (SR - AR)* AH = ($15 - $17) * 25600 = $51,200 Unfavorable

Q: Manlow Company makes a cologne called Allure. The standard cost for one bottle of Allure is as…

A: 1. Total material variance = Total standard material cost - Total actual material cost =…

Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…

A: Formulas: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour) x Actual…

Q: Product N requires a standard amount of 3 labour hours per unit, at a standard rate of £9.50 per…

A: Solution Actual rare of labor = actual cost / actual hours  = 42300/ 4700 = 9.00 per hour

Q: Bellingham Company produces a product that requires 4 standard direct labor hours per unit at a…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor time…

Q: Smithson, Inc., manufactures lead crystal glasses. Smithson, Inc.'s managers recently calculated the…

A: Direct material cost variance This is the difference between the standard and actual cost per unit…

Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…

A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…

Q: Deems Company's budgeted fixed factory overhead cost is P50,000 per month plus a variable factory…

A: Formula    Flexible budget variance  =   (Vaeiable  budgeted overhead - variable     actual…

Q: Calculating materials variances Martin, Inc. is a manufacturer of lead crystal glasses. The standard…

A: Material Cost Variance and Material Efficiency Variance: The material cost variance, also called as…

Q: Direct labor variances Bellingham Company produces a product that requires 3 standard direct labor…

A: Labor Rate variance = (Standard Rate-Actual Rate) * Actual Hours Labor time variance = (Standard…

Q: Calculating the Fixed Overhead Spending and Volume Variances Standish Company manufactures consumer…

A: Standard costing is an method of costing and it was used to identify variances between actual and…

Q: Longman, Ic., manufactures lead crystal glasses. Longman, Inc.'s managers recently calculated the…

A:

Q: Direct Labor Variances Bellingham Company produces a product that requires 7 standard hours per unit…

A: Calculation of direct labor rate, time and total direct labor cost variance:

Q: Direct Materials Variances Bellingham Company produces a product that requires 9 standard pounds per…

A: Variance is referred as the difference. In calculating price variance, a difference in the standard…

Q: Venneman Company produces a product that requires 14 standard pounds per unit. The standard price is…

A: Standard quantity=Standard pounds×Actual units=14×3,500=49,000

Q: What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round…

A: Direct Material Price Variance :— It is the difference between the actual quantity of direct…

Q: Direct Labor Variances Dvorak Company produces a product that requires 3 standard hours per unit at…

A: Direct Labour cost variance means when there is a difference between standard cost of labour and…

Q: Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds…

A: The variance is the difference between the actual data and standard output of the production.…

Q: Calculation of materials and labor variances Fritz Corp. manufactures and sells a single product.…

A: In case where standard cost is higher than actual cost then it is favorable variance. Otherwise it…