Please help me step by step with how to get numbers. Also if using excel please take out the formula in leave the numbers, last time you left formula instead and I could not check to see if I was right. Direct Labor Variances Alpine Bicycle Company manufactures road bikes. The following data for September of the current year are available: Quantity of direct labor used 790 hrs. Actual rate for direct labor $13.4 per hr. Bicycles completed in September 370 Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $13.7 per hr. a. Determine the direct labor rate variance and direct labor time variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $ Time variance $ Total direct labor cost variance $ b. How much direct labor should be debited to Work in Process?$ Liz C
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.
Please help me step by step with how to get numbers. Also if using excel please take out the formula in leave the numbers, last time you left formula instead and I could not check to see if I was right.
Direct Labor Variances
Alpine Bicycle Company manufactures road bikes. The following data for September of the current year are available:
| Quantity of direct labor used | 790 hrs. |
| Actual rate for direct labor | $13.4 per hr. |
| Bicycles completed in September | 370 |
| Standard direct labor per bicycle | 2 hrs. |
| Standard rate for direct labor | $13.7 per hr. |
a. Determine the direct labor rate variance and direct labor time variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Rate variance | $ | |
| Time variance | $ | |
| Total direct labor cost variance | $ |
b. How much direct labor should be debited to Work in Process?
$
Liz C
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