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The following data are given for Harry Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per $6.50 ounce Standard ounces per 8 completed unit 228,000 Actual ounces purchased and used in production Actual price paid for $1,504,800 materials Labor: Standard hourly $22.00 per hour labor rate Standard hours 6.6 allowed per completed unit Actual labor hours 183,000 worked Actual total labor $4,020,000 costs Overhead: $1,029,600 Actual and budgeted fixed overhead Standard variable overhead rate $24.50 per standard labor hour Actual variable $4,520,000 overhead costs Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor time variance is a.$6,000 favorable b.$6,000 unfavorable c.$33,000 unfavorable d.$33,000 favorable

The following data are given for Harry Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per $6.50 ounce Standard ounces per 8 completed unit 228,000 Actual ounces purchased and used in production Actual price paid for $1,504,800 materials Labor: Standard hourly $22.00 per hour labor rate Standard hours 6.6 allowed per completed unit Actual labor hours 183,000 worked Actual total labor $4,020,000 costs Overhead: $1,029,600 Actual and budgeted fixed overhead Standard variable overhead rate $24.50 per standard labor hour Actual variable $4,520,000 overhead costs Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor time variance is a.$6,000 favorable b.$6,000 unfavorable c.$33,000 unfavorable d.$33,000 favorable

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 21E: Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is...
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The following data are given for Harry Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per $6.50 ounce Standard ounces per 8 completed unit 228,000 Actual ounces purchased and used in production Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22.00 per hour Standard hours 6.6 allowed per completed unit Actual labor hours 183,000 worked Actual total labor $4,020,000 costs Overhead: $1,029,600 Actual and budgeted fixed overhead Standard variable overhead rate $24.50 per standard labor hour Actual variable $4,520,000 overhead costs Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor time variance is a.$6,000 favorable b.$6,000 unfavorable c.$33,000 unfavorable d.$33,000 favorable
Transcribed Image Text:The following data are given for Harry Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per $6.50 ounce Standard ounces per 8 completed unit 228,000 Actual ounces purchased and used in production Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22.00 per hour Standard hours 6.6 allowed per completed unit Actual labor hours 183,000 worked Actual total labor $4,020,000 costs Overhead: $1,029,600 Actual and budgeted fixed overhead Standard variable overhead rate $24.50 per standard labor hour Actual variable $4,520,000 overhead costs Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor time variance is a.$6,000 favorable b.$6,000 unfavorable c.$33,000 unfavorable d.$33,000 favorable
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