Compute the total labor variance

Assignment Help Financial Accounting

Reference no: EM13775750

Lewis Company’s standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $12.00 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.13 per hour to produce 10,200 units of Product DD.

a) Compute the total labor variance.

Total labor variance

b) Compute the labor price and quantity variances

Labor price variance

Labor quantity variance

c) Compute the labor price and quantity variances, assuming the standard is 4.30 hours of direct labor at $12.27 per hour.

Labor price variance

Labor quantity variance

Reference no: EM13775750

Questions Cloud

Polydispersity index for the molecular weight : Calculate Mn & Mw, and the polydispersity index for the molecular weight data provided below and graph. Repeat your calculations if the molecular weight data were changed by increasing the frequency

Prepare the journal entry harbor will record at inception : Harbor (lessee) signs a five-year capital lease for office equipment with a $10,000 annual lease payment. The present value of the five annual lease payments is $41,000, based on a 7% interest rate. Prepare the journal entry Harbor will record at inc..

What search patterns may be utilized at this crime scene : What search patterns may be utilized at this crime scene? Why did you make the choice to use this particular search pattern for your recovery efforts

What were the firms budgeted payments : Digregory makes all purchases on account, subject to the following payment pattern: If purchases for January, February, and March were $195,000, $175,000, and $225,000, respectively, what were the firm's budgeted payments in March?

Compute the total labor variance : Lewis Company’s standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $12.00 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.13 per hour to produce 10,200 units of Product DD. Compute the to..

Anthrax was used as a weapon of terror in the united states : In the fall of 2001, anthrax was used as a weapon of terror in the United States when it was sent to numerous media and political organizations and individuals, including Tom Brokaw of NBC News, Dan Rather of CBS News, and U.S. Senators. According to..

What was the budgeted receivables balance : Verna's makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, Nove..

Biometric evidence in the criminal justice system : How do other biometrics compare to the reliability and validity of fingerprint evidence?

What were the firms budgeted collections : Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 50% are collected in the first month after sale; and 30% are collected in the second m..

User Account

All Pages