Reference no: EM132205484
Questions -
Q1. The following labor standards have been established for a particular product:
Standard labor-hours per unit of output 9.1 hours
Standard labor rate $12.90 per hour
The following data pertain to operations concerning the product for the last month:
Actual hours worked 6900 hours
Actual total labor cost $86,250
Actual output 900 units
What is the labor efficiency variance for the month?
Q2. The following labor standards have been established for a particular product:
Standard labor hours per unit of output 4.4 hours
Standard labor rate $20.20 per hour
The following data pertain to operations concerning the product for the last month:
Actual hours worked 7,000 hours
Actual total labor cost $142,100
Actual output 1,500 units
a. What is the labor rate variance for the month?
b. What is the labor efficiency variance for the month?
Q3. The following materials standards have been established for a particular product:
Standard quantity per unit of output 4.2 meters
Standard price $18.40 per meter
The following data pertain to operations concerning the product for the last month:
Actual materials purchased 7,200 meters
Actual cost of materials purchased$138,600
Actual materials used in production 6,700 meters
Actual output 1,550 units
What is the materials price variance for the month?
Q4. An unfavorable materials quantity variance indicates that:
- actual material price exceeds standard price.
- actual material price is less than the standard price.
- actual usage of materials is less than the standard material allowed for output.
- actual usage of material exceeds the standard material allowed for output.
Q5. Photo Framing's cost formula for its supplies cost is $1,190 per month plus $19 per frame. For the month of November, the company planned for activity of 617 frames, but the actual level of activity was 609 frames. The actual supplies cost for the month was $12,500. The variance for supplies cost in November would be closest to?