Calcul xOrdereBookgoogleXDirect Labor VariancesRe-Cycle Company manufacturesQuantity of direct labor usedActual rate for direct laborBicycles completed in JulyStandard direct labor per bicycleStandard rate for direct laborCheck My Works Dallas Xw.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false#Show Me HowDirect labor rate varianceDirect labor time varianceTotal direct labor cost varianceb. How much direct labor should be debited to Work in Process?8 ScoreOOllX M myboxcommuter bicycles from recycled materials. The following data for July of the current year are available:670 hrs.$12.20 per hr.310 bicycles2 hrs.$12.40 per hr%Print Item<Cenga xCenga xCengaa. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance asa positive number.✪&CathoX+•3VQ < ☆ChromeOS update for Android... • 25mUpdate required today* ODLONov 14 6:36 0

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Description: Calcul xOrdereBookgoogleXDirect Labor VariancesRe-Cycle Company manufacturesQuantity of direct labor usedActual rate for direct laborBicycles completed in JulyStandard direct labor per bicycleStandard rate for direct laborCheck My Works Dallas Xw.co

Variances are the differences between the standard costs and the actual costs. If the standard costs…

Business

Accounting

< Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor used 670 hrs. Actual rate for direct labor Bicycles completed in July Standard direct labor per bicycle Standard rate for direct labor $12.20 per hr. 310 bicycles 2 hrs. $12.40 per hr. a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance Direct labor time variance) Total direct labor cost variance) b. How much direct labor should be debited to Work in Process?

< Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor used 670 hrs. Actual rate for direct labor Bicycles completed in July Standard direct labor per bicycle Standard rate for direct labor $12.20 per hr. 310 bicycles 2 hrs. $12.40 per hr. a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance Direct labor time variance) Total direct labor cost variance) b. How much direct labor should be debited to Work in Process?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 11P: Overhead application rate Creole Manufacturing Inc. uses a job order cost system and standard costs....

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/takeAssignment/takeAssignmentMain.do?invoker=Dassignments&takeAssignmentSessionLocator%3Dassignment-take&inprogress%-false ☆ ロ eBook Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling $110,700 Number of moves 4,500 Engineering 153,900 Number of change orders 9,000 Other overhead 310,000 Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $24,900 $19,800 $2,900 $0 Direct materials $5,800 $9,900 $13,200 $9,500 Direct labor cost $810 $1,080 $1,560 $130 Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 45 48 33 4 Number of change orders 27 40 23 18 Direct labor hours 810 1,080 1,560 130 By July 31, Jobs 13-43 and 13-44 were completed…
Overhead application rate Creole Manufacturing Inc. uses a job order cost system and standard costs. It manufactures one product, whose standard cost follows: The standards are based on normal capacity of 2,400 direct labor hours. Actual activity for October follows: Required: 1. Compute the variable and fixed factory overhead rates per unit. 2. Compute the variable and fixed overhead rates per direct labor hour. 3. Determine the total fixed factory overhead based on normal capacity.
ParticularsAmountDirect materialR12Direct laborR50Variable manufacturing overheadR6.50Unit product cost for the month under marginal costingR68.50 Prepare an income statement for the month using the Marginal costing method.
Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable). Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit - X Data Table AC x AQ SC x AQ SC x SQ $13.00 per DLHr $16.00 per DLHR $16.00 per DLHr 1,650 DLHF 1,650 DLHR 1.200 DLHr $21,450 $26.400 $19,200 Requirements 1. Record Brookman's direct labor journal entry (use Wages Payable). 2. Explain what management will do with this variance information. Cost Efficiency Variance Variance $4.950 F S7,200 U Print Done Print Done
Test VII. High and Low Points Method. A controller is interested in analyzing the fixed and variable costs of indirect labor as related to direct labor hours. The following data have been accumulated: Indirect Direct Labor Labor Cost $2,880 3,256 2,820 3,285 3,200 3,200 Month March. Hours 425 Аpril May June. July . August. 545 440 560 540 495 Requirement: Determine the amount of the fixed portion of indirect labor expense and the variable rate for indirect labor expense, using the high and low points method.
Allocating and adjusting manufacturing overhead Selected cost data for Classic Print Co. are as follows: Requirements Compute the predetermined overhead allocation rate per direct labor dollar. Prepare the journal entry to allocate overhead costs for the year. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead.
Rooney Corporation estimated its overhead costs would be $23,600 per month except for January when it pays the $146,100 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $169,700 ($146,100 + $23,600). The company expected to use 7,400 direct labor hours per month except during July, August, and September when the company expected 9,600 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,700 units of product in each month except July, August, and September, in which it produced 4,800 units each month. Direct labor costs were $24.90 per unit, and direct materials costs were $10.70 per unit. Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August. c. Determine…
to the balance in Finished Goods? What would happen to the balance of Cost of Goods pay he Job by JU 30? What would happen Sold? Cornerstone Exercise 5.3 Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost Driver Amount of Driver Materials handling Engineering Other overhead $ 72,000 165,000 280,000 Number of moves 3,000 10,000 Number of change orders Direct labor hours 50,000 Heitger worked on four jobs in July. Data are as follows: Job 13-43 Job 13-44 Job 13-45 Job 13-46 $ 2,300 $12,700 $32,000 %24 $9,800 $2,400 (continued) $ Beginning balance Direct materials $20,300 $ 6,500 $19,800 $ 8,900 $20,000 $18,000 Direct labor cost
engageNOWv2 | Online teachin X + _com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress.... A E At the end of April, Cavy Company had completed Jobs 765 and 766. The individual job cost sheets reveal the following information: Job Direct Materials Direct Labor Machine Hours Job No. 765 $8,400 30 $2,520 4,698 Job No. 766 14,877 87 Job 765 consisted of 180 units, and Job 766 consisted of 261 units. Assuming that the predetermined factory overhead rate is applied by using machine hours at a rate of $95 per hour. a. Determine the balance on the job cost sheets for each job. Job 765 Job 766 b. Determine the cost per unit at the end of April. Round your answers to the nearest cent. Job 765 Job 766 a 118 D -F10 Previous Next > D
1. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses direct labor hours as its manufacturing overhead allocation base. attached in ss sbelow thanks gwrngw
Overhead application rate Roll Tide Manufacturing Inc. uses a job order cost system and standard costs. It manufactures one product, whose standard cost follows: The standards are based on normal capacity of 2,700 direct labor hours. Actual activity for March follows: Required: 1. Compute the variable and fixed factory overhead rates per unit. 2. Compute the variable and fixed overhead rates per direct labor hour. 3. Determine the total fixed factory overhead based on normal capacity.
PREDETERMINED FACTORY OVERHEAD RATE Millerlile Enterprises calculates a predetermined factory overhead rate so that factory overhead may be applied to production during the month. It calculates the overhead using three different methods and then decides which one to use. Total estimated factory overhead costs are 540,000. Total estimated direct labor hours are 50,000. Total estimated direct labor costs are 900,000. Total machine hours are estimated to be 80,000. Calculate the predetermined overhead application rates based on (1) direct labor hours, (2) direct labor costs, and (3) machine hours.