Please do not give solution in image format thanku 1.2.Required information[The following information applies to the questions displayed below.]3Textron Manufacturing Inc. assembles industrial testing instruments in two departments, assembly and testing.Operating data for the current and prior year follow:Assembly departmentActual direct labor hours per instrumentActual wage rate per hourStandard direct labor hours per instrumentStandard wage rate per hourTesting departmentActual direct labor hours per instrumentActual wage rate per hourStandard direct labor hours per instrumentStandard wage rate per hourCurrentYearRate variance (Prior year)Rate variance (Current year)25$53Efficiency variance (Prior year)Efficiency variance (Current year)Partial operational productivity ratio (Prior year)Partial operational productivity ratio (Current year)Partial financial productivity ratio (Prior year)Partial financial productivity ratio (Current year)26$ 52The firm assembled and tested 37,000 instruments in both years.15$ 4216$ 45Required:1. Calculate the direct labor rate and efficiency variances for both departments in both years.2. Calculate the direct labor partial operational productivity ratio for both departments in both years. (Round your answers to 4decimal places.)3. Calculate the partial financial productivity ratio for both departments in both years. (Round your answers to 4 decimal places.)PriorYear30$ 4729$4517$3719$38X Answer is not complete.Assembly Department$2,220,000 Unfavorable$ 925,000 Unfavorable$ 1,665,000✔ Unfavorable$ 1,924,000 FavorableTesting Department$ 629,000✔$ 1,665,000✔ Favorable$2,812,000 Favorable$ 1.665,000 Favorable✓✓✓

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Description: Please do not give solution in image format thanku 1.2.Required information[The following information applies to the questions displayed below.]3Textron Manufacturing Inc. assembles industrial testing instruments in two departments, assembly and test

1. Direct labor rate variance : Prior Year : i) Assembly Department : Actual Direct Labor Hours = 30…

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Required information [The following information applies to the questions displayed below.] Textron Manufacturing Inc. assembles industrial testing instruments in two departments, assembly and testing. Operating data for the current and prior year follow: Assembly department Actual direct labor hours per instrument Actual wage rate per hour Standard direct labor hours per instrument Standard wage rate per hour Testing department Actual direct labor hours per instrument Actual wage rate per hour Standard direct labor hours per instrument Standard wage rate per hour Current Year 25 $ 53 26 $ 52 15 $42 16 $ 45 The firm assembled and tested 37,000 instruments in both years. Prior Year 30 $ 47 29 $45 17 $ 37 20 19 $38 Required: 1. Calculate the direct labor rate and efficiency variances for both departments in both years. 2. Calculate the direct labor partial operational productivity ratio for both departments in both years. (Round your answers to 4 decimal places.) 3. Calculate the partial financial productivity ratio for both departments in both years. (Round your answers to 4 decimal places.)

Required information [The following information applies to the questions displayed below.] Textron Manufacturing Inc. assembles industrial testing instruments in two departments, assembly and testing. Operating data for the current and prior year follow: Assembly department Actual direct labor hours per instrument Actual wage rate per hour Standard direct labor hours per instrument Standard wage rate per hour Testing department Actual direct labor hours per instrument Actual wage rate per hour Standard direct labor hours per instrument Standard wage rate per hour Current Year 25 $ 53 26 $ 52 15 $42 16 $ 45 The firm assembled and tested 37,000 instruments in both years. Prior Year 30 $ 47 29 $45 17 $ 37 20 19 $38 Required: 1. Calculate the direct labor rate and efficiency variances for both departments in both years. 2. Calculate the direct labor partial operational productivity ratio for both departments in both years. (Round your answers to 4 decimal places.) 3. Calculate the partial financial productivity ratio for both departments in both years. (Round your answers to 4 decimal places.)

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 9E: A manufacturing company has two service and two production departments. Human Resources and Machine...

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