What is the direct labor rate variance

Assignment Help Accounting Basics
Reference no: EM131866381

Question - Tip Top Corp. produces a product that requires 10.0 standard hours per unit at a standard hourly rate of $19.00 per hour. If 2,600 units required 27,300 hours at an hourly rate of $18.43 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Reference no: EM131866381

Questions Cloud

Paper with multiple spelling errors : The three fundamental errors I monitor while revising my work are spelling, grammar, and cohesiveness
Determine the fixed factory overhead volume variance : The standard fixed overhead cost per unit is $2.50 per hour at 5,700 hours, which is 100% of normal capacity. Determine fixed factory overhead volume variance
Differences between milllennials and baby boomers : What are the differences between Milllennials and Baby Boomers? Which generation do you think has created more transformational leaders?
Did the employer discriminate unlawfully : If you were a judge how would you rule? Did the employer discriminate unlawfully? Why or why not?
What is the direct labor rate variance : If 2,600 units required 27,300 hours at an hourly rate of $18.43 per hour, what is the direct labor (a) rate variance, (b) time variance
Drabness of paul home life : The drabness of Paul's home life is contrasted with the world of glamour, lights, music, color, and luxury at Carnegie Hall and the stock theatre
Interpretation of the characters of dee : Consider Mama's opinion as the narrator, but also discuss your own interpretation of the characters of Dee and/or Maggie, as well as the theme
What is the purpose of score : What are the differences between a heterogenous and a homogenus founding team? What are the peronal attributes that affect a founders chances of launching.
Explain the weaknesses of a cpif contract vs a cpaf contract : We want to contract out work to operate our small factory.Describe the relative benefits and weaknesses of a CPIF contract vs. a CPAF contract.

Reviews

Write a Review

Accounting Basics Questions & Answers

  The selling price subsequently increases

Under IAS 2, what adjustment needs to be made after an inventory write-down if the selling price subsequently increases?

  Floating and a fixed exchange rate system

1. Why might the government be interested in influencing exchange rates from time to time? How would it go about moving the exchange rate? 2. Describe the difference between a floating and a fixed exchange rate system.

  Preparing a bank reconciliation as of june

Other information that may be relevant in preparing a bank reconciliation as of June 30, 2015, is as follows

  Workshop on natural resources and intangible assets

The CEO attended a workshop on natural resources and intangible assets. He was confused on the difference between these two types of assets and how to write-off the cost of these assets.

  Discuss what portion of her self-employed earnings subject

what portion of her self-employed earnings is subject to the two parts of the social security tax

  Discuss keeps its records without the help of an accountant

a small service repair company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared

  Equalize the collector currents

In a differential amplifier using a 1.5-mA emitter bias current source, the two BJTs are not matched. Rather, one has twice the emitter junction area of the other.

  Prepare separate entries for each transaction on the books

On June 10, Tuzun Company purchased $8,000 of merchandise from Epps Company, FOB shipping point, terms 2/10, n/30. Tuzun pays the freight costs of $400 on June 11. Prepare separate entries for each transaction on the books of Tuzun Company

  Journalize the business transactions in the general journal

HIA 4020 ASSIGNMENT - Journalize the following business transactions in the general journal included below. Identify each transaction by number. Include an explanation/description for each entry.

  Repare the appropriate adjusting entry

Prepare the appropriate adjusting entry for vacations earned but not taken in 2009?

  On jul 1 2009 gerdin company borrowed 100000 the company

on jul 1 2009 gerdin company borrowed 100000. the company signed a note payable with interest at 6 per year. the note

  What was the bonds market price

Akers Company sold bonds on July 1, 2017, with a face value of $100,000. What was the bonds' market price on July 1, 2018

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