Direct labor variances The following data is provided for Bellingham Company: DATA Standard direct labor hours per unit Standard hourly rate Units produced Actual labor hours used 3 $21.00 15,800 64,800 $19.20 Actual hourly rate Using formulas and cell references, perform the required analysis, and i cells in the Amount column. Select the corresponding type of variance ir Transfer the numeric results for the green entry cells (C15:C17) into the grading. Amount a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance Favorable or Unfavorable Favorable or Unfavorable Favorable or Unfavorable

Question
Direct labor variances
The following data is provided for Bellingham Company:
DATA
Standard direct labor hours per unit
Standard hourly rate
Units produced
Actual labor hours used
3
$21.00
15,800
64,800
$19.20
Actual hourly rate
Using formulas and cell references, perform the required analysis, and i
cells in the Amount column. Select the corresponding type of variance ir
Transfer the numeric results for the green entry cells (C15:C17) into the
grading.
Amount
a. Direct labor rate variance
b. Direct labor time variance
c. Direct labor cost variance
Favorable or Unfavorable
Favorable or Unfavorable
Favorable or Unfavorable
Expand
Transcribed Image Text

Direct labor variances The following data is provided for Bellingham Company: DATA Standard direct labor hours per unit Standard hourly rate Units produced Actual labor hours used 3 $21.00 15,800 64,800 $19.20 Actual hourly rate Using formulas and cell references, perform the required analysis, and i cells in the Amount column. Select the corresponding type of variance ir Transfer the numeric results for the green entry cells (C15:C17) into the grading. Amount a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance Favorable or Unfavorable Favorable or Unfavorable Favorable or Unfavorable

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Standard Costing

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: The following is selected information from Mars Corp. Inventory, February 28, 2018 $456,000 Inventor...

A: Cost of Goods sold is the amount incurred to produce the products sold by the business during the pa...

Q: United Merchants Company sells 20,000 units at $27 per unit. Variable costs are $16.20 per unit, and...

A: Contribution Margin ratio:   It is a ratio that measures the contribution margin generated by the c...

Q: Reviewing insurance policies revealed that a single polic was purchased on August 1, for one year's ...

A: Click to see the answer

Q: At the beginning of the period, the Grinding Department budgeted direct labor of $72,600 and propert...

A: Budgeted direct labor cost per hour = budgeted direct labor cost / Budgeted hours = $72,600 / 6,600 ...

Q: On January 1, Renewable Energy issues bonds that have a $20,000 par value, mature in eight years, an...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: Define what a corporation is, the types that exist and their characteristics.

A: Click to see the answer

Q: Requirement 2. Prepare the stockholders ' equity section of the KCAS - TV balance sheet at September...

A: Click to see the answer

Q: Hello, I need formulas explaining the answers, thank you.

A: Dividend distribution is a method of distributing profit among the stockholder of the organization. ...

Q: On April 1, Year 1, Brandi Corporation issued $20,000,000 of 5-year, 9% bondsat a market interest ra...

A: Premium on Bonds Payable = Issue value of bonds - Face value of Bonds = $20,811,010 - $20,000,000 = ...

Q: We discuss how to prepare the different component budgets of theoperating budget, including the sale...

A: Cost of goods sold : It is calculated by multiplying the units sold with the product cost per unit.

Q: Durham Company uses a responsibility reporting system. It has divisions in Denver, Seattle, and San ...

A: Responsibility accounting involves preparation of reports relating to various departments that is su...

Q: Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recen...

A: Click to see the answer

Q: These financial statement items are for Crane Corporation at year-end, July 31, 2022. Salaries and w...

A: Financial Statements are prepared by the management for reporting purposes. These are the essential ...

Q: Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, t...

A: A high low method is used to separate the mixed cost into fixed cost and variable cost. In this meth...

Q: Gainer Company has three sources of financing: $3 million of mortgage bonds paying 5 percent interes...

A: After-Tax Cost for Mortage bonds = Interest rate x (1 - tax rate) = 5% x (1-0.40) = 3% After-Tax Cos...

Q: Yem Company expects to produce 1,830 units in January and 1,923 units in February. Yem budgets five ...

A: The budget is prepared by the management on the basis of past experience. On the basis of the budget...

Q: Can someone please tell me if I'm on the right track, and complete the missing cells by completing t...

A: Click to see the answer

Q: The 2014 comparative balance sheet and 2014 income statement of Byfield Co Ltd, have just been distr...

A: Cash flow from operating activities are considered most important because they affect daily operatin...

Q: Love Co. sold merchandise to Kind Co. on account, P35,000, terms 2/15, net 45. The cost of the merch...

A: Cost of goods sold less return=Cost of goods sold-Return=P 24,500-P1,700=P 22,800

Q: 2. explain the transfer pricing method that is used / can be used in this company. Explain the advan...

A:            Transfer pricing is the price at which different parties interact with each other . A tra...

Q: Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of ...

A: a.

Q: Assuming the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $23,900 Prep...

A: Closing entries are the journal entries made at the end of the accounting year that closes the tempo...

Q: Prepare the cost of goods sold section for Adams Gift Shop. The following amounts are known:   Begin...

A: Cost of goods sold is an expense account, which will be reported on the income statement. 

Q: The 2014 comparative balance sheet and 2014 income statement of Byfield Co Ltd, have just been distr...

A:            Statement of Cash flow is one of the main financial statement which reports Cash inflow a...

Q: You have decided to throw a party next weekend for 19 friends. The friends are going to bring health...

A: Concept used : The planning to buy the bottles is depends upon the number of Total bottel required a...

Q: A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: (image ...

A: Click to see the answer

Q: Which of the following entities can use cost-volume-profit (CVP) analysis?   Multiple Choice   ...

A: CVP analysis is considered as a decision-making tool that helps management to make strategies and ta...

Q: Resources' requirements, standard pounds per unit Resources' standard price, per pound Units produce...

A: Formula: Direct materials price variance = ( Standard price - actual price ) x Actual quantity. Dedu...

Q: Performing services for cash will have the following effects on the components of the basic accounti...

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of to...

Q: -What extent a member is liable to cooperative debts? -Discuss the procedure when the board of dir...

A: Co-operative Society:   A Co-operative Society is an artificial voluntary association of people who ...

Q: Brief Exercise 9-13 Blue Spruce Ltd. has a single investment that it acounts for using FV-OCI. The c...

A: Journal entry is the process of recording business transactions in the books of accounts for the fir...

Q: a.  If Canace Company, with a break-even point at $368,000 of sales, has actual sales of $460,000, w...

A: Margin of safety: Difference between total sales and break even sales is called margin of safety. Ma...

Q: Direct Labor Cost Budget Dauber Inc. budgeted production of 66,000 personal journals in 20Y6. Each j...

A: Total time required for production of personal journals  = No. of journals x Time required for one j...

Q: Horizontal analysis of income statement (What did I do wrong? Anyone know the correct answers to the...

A: Horizontal analysis is prepared to calculate the variance from previous year by showing increase/dec...

Q: TB 06-60 On June 15, a retailer purchases merchandise on account On June 15, a retailer purchases me...

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of journ...

Q: Nillson's Nursery uses the direct write-off method for recording bad debts. Required: Journalize the...

A: Journal:   Journal is the book of original entry. Journal consists of the day today financial transa...

Q: Icarus Airlines is proposing to go public, and you have been given the task of estimating the value ...

A: Cost of debt =8% Cost of equity =11% weight of debt =20% weight of equity =80% Wacc =weighted averag...

Q: Oleck Inc. produces stereo components that sell at P = $100 per unit. Oleck’s fixed costs are $200,0...

A: EBIT means earning before interest and tax. We will calculate the rate of return on new investment a...

Q: Woodpecker Co. has $301,000 in accounts receivable on January 1. Budgeted sales for January are $814...

A: Schedule of cash collections gives information about the collection of accounts receivable. Schedule...

Q: Hello question is attached, thanks

A: Master Budget: Sales = 225,000 unit x $9 per unit = $2025000 Variable costs = 225,000 units x $3.75 ...

Q: An entity’s unadjusted trial balance does not equal. The following information was determined: • The...

A: Trial balance is prepared to find out the arthimetical accuracy of books of account with all ledger ...

Q: 4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a sole trader: Feb 1 St...

A: As posted multiple independent questions we are answering only first question kindly repost the unan...

Q: Erza Company has a P180,000, 10%, 90-day note receivable outstanding at December 31. The note is dat...

A: Interest receivable is interest accrued but not received. Interest receivable is an asset. Increase ...

Q: Which of the following formulas can be used to represent targeted pretax profit, πB, as a function o...

A: option 1 is correct  πB = πA/(1 - t)   πB = Pretax target profit   πA=Post tax profit  t=Tax rate 

Q: The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal ...

A: Financial statements:   Financial statements are condensed summary of transactions communicated in t...

Q: The Estrella-Pantaleon Bridge connecting Estrella, Makati City to Barangka Drive in Mandaluyong is a...

A: Given: Length of bridge= 506 metres Width= 6.7 metres Cost of asphalt overlay= 11,000 PhP (Philippin...