Question

1- A manager indicated the following: "Our workers are all under labor contracts: therefore, our labor...

1- A manager indicated the following: "Our workers are all under labor contracts: therefore, our labor rate variance is bound to be zero." Discuss

2- What effect, if any, would your expect poor-quality materials to have on direct labor variances?
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price    or Rate     Standard Cost      Direct materials 7.10 pounds $ 1.80 per pounds $ 12.78       Direct labor 0.20 hours $ 12.00 per hour $ 2.40     During the most recent month, the following activity was recorded: a. 19,250 pounds of material were purchased at a cost of...
Exercise 10-6 Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Huron Company produces a commercial cleaning...
Exercise 10-6 Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 6.80 pounds $ 2.90 per pound $ 19.72 Direct labor 0.20 hours $ 9.00 per hour $ 1.80 During the most recent month, the following activity was recorded: 15,100.00 pounds of material were...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.50 pounds $ 2.40 per pound $ 18.00 Direct labor 0.80 hours $ 7.00 per hour $ 5.60 During the most recent month, the following activity was recorded: 13,250.00 pounds of material were purchased at a cost of $2.20 per pound. All of...
1. Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the...
1. Exercise 21-12 Direct materials and direct labor variances LO P3 Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $4 per lb.) $60 Direct labor (2 hrs. @ $14 per hr.) 28 During June the company incurred the following actual costs to produce 8,500 units. Direct materials (130,500 lbs. @ $3.80 per lb.) $ 495,900 Direct labor (21,900 hrs. @ $14.15 per hr.)....
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 6.40 pounds $ 1.70 per pound $ 10.88 Direct labor 0.40 hours $ 14.00 per hour $ 5.60 During the most recent month, the following activity was recorded: Eighteen thousand five hundred pounds of material were purchased at a cost of $1.40 per...
1.Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
1.Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.40 pounds $ 2.60 per pound $ 19.24 Direct labor 0.45 hours $ 8.00 per hour $ 3.60 During the most recent month, the following activity was recorded: 12,100.00 pounds of material were purchased at a cost of $2.50 per pound. All of...
Total Per Set of Covers Direct materials $ 26,964 $ 12.60 Direct labor $ 11,770 5.50...
Total Per Set of Covers Direct materials $ 26,964 $ 12.60 Direct labor $ 11,770 5.50 Variable manufacturing overhead (based on direct labor-hours) $ 3,638 1.70 $ 19.80 During August, the factory worked only 1,000 direct labor-hours and produced 2,400 sets of covers. The following actual costs were recorded during the month: Total Per Set of Covers Direct materials (6,000 yards) $ 29,280 $ 12.20 Direct labor $ 13,680 5.70 Variable manufacturing overhead $ 5,760 2.40 $ 20.30 At standard,...
Labor Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Labor Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @ $4) $12.00 Direct labor (0.75 hr. @ $12) 9.00 Total prime cost $21.00 During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 287,500 strips at $4.20 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards...
Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.20 pounds $ 2.90 per pound $ 20.88 Direct labor 0.50 hours $ 10.00 per hour $ 5.00 During the most recent month, the following activity was recorded: 16,900.00 pounds of material were purchased at a cost of $2.60 per pound. All of the...
Exercise 10-8 Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Dawson Toys, Ltd., produces a toy...
Exercise 10-8 Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.30 per micron Direct labor: 1.4 hours per toy at $6.90 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows:...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT