Marigold Corp. produces a product requiring 4 direct labor hours at $15 per hour. During January, 3200 products are produced using 13100 direct labor hours. Marigold's actual payroll for direct labor during January was $194280. What is the labor quantity variance for the month? $4500 F $2280 U $2220 F O $4500 U
Marigold Corp. produces a product requiring 4 direct labor hours at $15 per hour. During January, 3200 products are produced using 13100 direct labor hours. Marigold's actual payroll for direct labor during January was $194280. What is the labor quantity variance for the month? $4500 F $2280 U $2220 F O $4500 U
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 55E: Escuchar Products, a producer of DVD players, has established a labor standard for its productdirect...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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