
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Topic Video
Question
The Flapjack Corporation had 7,704 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 957 units were actually produced. Labor standards were 7.5 hours per completed unit at a standard rate of $12.78 per hour.
The labor rate variance is
$2,927.52 unfavorable
$2,927.52 favorable
$7,022.20 unfavorable
$7,022.20 favorable
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Flapjack Corporation had 7,760 actual direct labor hours at an actual rate of $12.04 per hour. Original production had been budgeted for 1,100 units, but only 970 units were actually produced. Labor standards were 7.2 hours per completed unit at a standard rate of $13.00 per hour. Round your answer to the nearest cent. The direct labor time variance is Oa. $7,457.36 unfavorable Ob. $7,457.36 favorable Oc. $10,088.00 unfavorable Od. $10,088.00 favorablearrow_forwardFeagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?arrow_forwardThe Flapjack Corporation had 7,728 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 960 units were actually produced. Labor standards were 7.6 hours per completed unit at a standard rate of $13.02 per hour. The labor rate variance is $5,564.16 unfavorable $5,564.16 favorable $5,849.63 unfavorable $5,849.63 favorablearrow_forward
- Zitrik Corporation manufactured 130,000 buckets during February. The variable overhead cost-allocation base is $5.30 per machine-hour. The following variable overhead data pertain to February: Production Machine-hours Variable overhead cost per machine-hour What is the variable overhead efficiency variance? $2,650 unfavorable O $2,675 favorable $2,650 favorable $2,675 unfavorable Actual 130,000 units 9,500 hours $5.35 Budgeted 130,000 units 9,000 hours $5.30arrow_forwardVerde Company produces wheels for bicycles. During the year, 660,000 wheels were produced. The actual labor used was 368,000 hours at $9.20 per hour. Verde has the following labor standards: 1) $10.20 per hour; 2) 0.5 hour per wheel. REQUIRED 1. Compute the labor rate variance. 2. Compute the labor efficiency variance.arrow_forwardFlapjack Corporation had 7,704 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 957 units were actually produced. Labor standards were 7.8 hours per completed unit at a standard rate of $13.05 per hour. The direct labor rate variance is Oa. $5,778.00 unfavorable b. $5,778.00 favorable c. $3,523.81 unfavorable Od. $3,523.81 favorablearrow_forward
- Company A produced 2,200 units of output during a production process that normally requires 2 hours of labor per unit of output. The standard labor rate is $16 per hour, but the company paid $15 per hour. Actual hours needed to complete the production process were 4,600. How much was the labor rate variance? A. $4,400 favorable. B. $4,400 unfavorable. C. $4,600 favorable. D. $4,600 unfavorable.arrow_forwardValaarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education


Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,

Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON

Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education