How much was the labor efficiency variance

Assignment Help Financial Accounting
Reference no: EM13906750

Vanzant produced 1,000 units of output. The production process normally requires 2 hours of labor per unit of output. The standard labor rate is $10 per hour but Vanzant paid $11 per hour. Actual hours needed to complete the production process were 1,900. How much was the labor efficiency variance?

Reference no: EM13906750

Questions Cloud

Total amount of capital gain or loss : Determine the total amount of your capital gain or loss using (a)FIFO (first in, first out) accounting and (b) LIFO (last in, first out) accounting (that is assuming that you keep your stock certification in (a) a queue or (b) a stack using C lang..
The materials price variance : Total production of 1,000 units of finished goods required 3,000 actual parts at $2.25 per part. The standard is 2.9 parts per unit of finished goods, at a standard price of $2.30 per part. Which of the following statements is true?
Statements about journal entries to record variances : Which of the following statements about journal entries to record variances is true?
Calculate the continuous compound annual rate of inflation : Calculate the continuous compound annual rate of inflation if the index of retail prices was 134.67 on the 1st of January 1995, and had risen to 204.78 by the 1st of January 2000.
How much was the labor efficiency variance : Vanzant produced 1,000 units of output. The production process normally requires 2 hours of labor per unit of output. The standard labor rate is $10 per hour but Vanzant paid $11 per hour. Actual hours needed to complete the production process were 1..
Compute the variable overhead rate variance : Compute the variable overhead rate variance
In preparing its monthly performance report : For the month of April, budgeted sales were $100,000 and budgeted cost of goods sold was $80,000. Actual sales were $80,000 and actual cost of goods sold amounted to $90,000. In preparing its monthly performance report.
Computer science and information system : In the College of Computer Science and Information System, forty students were asked to rate the quality of teaching of his Course Instructor in the class room environment on a scale of 1 to 10 (1 means minimum standard of teaching and 10 means ex..
Segment of organization is referred to as cost center : A segment of an organization is referred to as a cost center if it has:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare a schedule showing intangible asset section

Effective January 1, 2011, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years.

  Calculation of break-evenmolly dymond and kathleen taylor

calculation of break-even.molly dymond and kathleen taylor are considering the probability of teaching swimming to kids

  Complete consolidated balance sheet working papers

The bonds pay interest on June 30 and December 31 and mature on December 31, 2010. Both Wren and Schrub use straightline amortization. Wren uses the equity method of accounting for its investment in Schrub. Complete the consolidated balance sheet w..

  Evaluation of peachtree complete accounting

Evaluation of Peachtree Complete Accounting will be based upon your experience. You will use screen prints to support your evaluation

  Evaluate the issue price of the bonds

Evaluate the issue price of the bonds and prepare the amortization table for 2011; consider that amortization is recorded on interest payment dates.

  Used straight line depreciation method

Reno company purchased equipment on January 1, 2012 for $82,000. The equipment is estimated to have a 5 year life and a salvage value of $5000. The company used straight line depreciation method.

  Question retail outlets purchase snowboards from slopes inc

question retail outlets purchase snowboards from slopes inc. all through the year. however in anticipation of late

  How does the company measure the transaction

In each case, how does the company measure the transaction? What measurement attribute is used? Identify the account affected and use plus and minus signs to indicate the increases and decreases in the specific element of the balance sheet.

  Calculate the amount of bad debt expense

Calculate the amount recorded by A&E as Insurance Expense in 2012 and what amount should A&E report as total infrequent net gains/losses that are considered extraordinary - calculate the amount of bad debt expense recorded by A&E in 2012.

  What is the net cash flow attributable to the asset purchase

What is the net cash flow attributable to the asset purchase in each year and the adjusted basis in the asset at the end of each year?

  Calculation of free cash flow for cade

Calculation of free cash flow for Cade. and How much cash did Cade pay to vendors for inventory during the period and How much cash did Cade pay in income taxes?

  How much is net cash flow from financing activities

During 2011, Tommy's Toys reported the following: short-term borrowings of $419 million; long-term borrowings of $147 million; long-term debt repayments of $45 million; interest paid, $128 million; and treasury shares repurchased $632 million.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd