Question

Brief Exercise 15-5 Indigo Company’s standard labor cost per unit of output is $32.77 (2.90 hours...

Brief Exercise 15-5 Indigo Company’s standard labor cost per unit of output is $32.77 (2.90 hours x $11.30 per hour). During August, the company incurs 3,532 hours of direct labor at an hourly cost of $11.75 per hour in making 1,200 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $ Labor price variance $ Labor quantity variance

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Total labour variance = (Actual hours * Actual rate) - (Standard hours * Standard rate)

= ($3,532 * $11.75) - [(1,200*2.90) * $11.30]

= $41,501 - $39,324

= $2,177 Unfavourable.

Labour price variance = (Actual hours * Actual rate) - (Actual hours * Standard rate)

= (3,532 * $11.75) - (3,532 * $11.30)

= $41,501 - $39,911.6

= $1,589.4 Unfavourable.

Labor quantity variance = (Actual hours * Standard rate) - (Standard hours * Standard rate)

= (3,532 * $11.30) - [(1,200*2.90) * $11.30]

= $39,911.6 - $39,324

= $587.6 Unfavourable

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
Question 3 Mordica Company’s standard labor cost per unit of output is $21.00 (2.10 hours x...
Question 3 Mordica Company’s standard labor cost per unit of output is $21.00 (2.10 hours x $10.00 per hour). During August, the company incurs 2,772 hours of direct labor at an hourly cost of $11.00 per hour in making 1,200 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $ Labor price variance $ Labor quantity variance $
Mordica Company’s standard labor cost per unit of output is $33.60 (3.00 hours x $11.20 per...
Mordica Company’s standard labor cost per unit of output is $33.60 (3.00 hours x $11.20 per hour). During August, the company incurs 3,045 hours of direct labor at an hourly cost of $11.70 per hour in making 1,000 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $ Labor price variance $ Labor quantity variance $
Mordica Company’s standard labor cost per unit of output is $30.00 (2.50 hours x $12.00 per...
Mordica Company’s standard labor cost per unit of output is $30.00 (2.50 hours x $12.00 per hour). During August, the company incurs 2,925 hours of direct labor at an hourly cost of $10.80 per hour in making 1,300 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.)
Mordica Company’s standard labor cost per unit of output is $22.00 (2.00 hours x $11.00 per...
Mordica Company’s standard labor cost per unit of output is $22.00 (2.00 hours x $11.00 per hour). During August, the company incurs 2,420 hours of direct labor at an hourly cost of $12.10 per hour in making 1,100 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $enter a dollar amount rounded to 2 decimal places select an option UnfavorableFavorableNeither favorable nor unfavorable Labor price variance...
Bramble Company’s standard labor cost per unit of output is $24.64 (2.20 hours x $11.20 per...
Bramble Company’s standard labor cost per unit of output is $24.64 (2.20 hours x $11.20 per hour). During August, the company incurs 2,233 hours of direct labor at an hourly cost of $11.59 per hour in making 1,000 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $enter a dollar amount rounded to 2 decimal places select an option                       ...
Mordica Company’s standard labor cost per unit of output is $32.40 (2.70 hours x $12.00 per...
Mordica Company’s standard labor cost per unit of output is $32.40 (2.70 hours x $12.00 per hour). During August, the company incurs 2,970 hours of direct labor at an hourly cost of $10.80 per hour in making 1,000 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) enter a dollar amount rounded to 2 decimal places select an option                                 ...
1. Mordica Company's standard labor cost per unit of output is $33 ( 3. hours times...
1. Mordica Company's standard labor cost per unit of output is $33 ( 3. hours times $ 11. per hour). During August, the company incurs 2970 hours of direct labor at an hour cost of $12.10 per hour in making 1100 units of finished product. (a) Compute the labor variance (b). Compute the labor quantity variance.
Simba Company’s standard materials cost per unit of output is $9.24 (2.20 pounds x $4.20). During...
Simba Company’s standard materials cost per unit of output is $9.24 (2.20 pounds x $4.20). During July, the company purchases and uses 2,376 pounds of materials costing $12,830 in making 1,200 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance $ FavorableNeither favorable nor unfavorableUnfavorable Materials price variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials quantity...
Lewis Company’s standard labor cost of producing one unit of Product DD is 3.70 hours at...
Lewis Company’s standard labor cost of producing one unit of Product DD is 3.70 hours at the rate of $10.60 per hour. During August, 40,400 hours of labor are incurred at a cost of $10.75 per hour to produce 10,800 units of Product DD. (a) Compute the total labor variance. Total labor variance $enter the Total labor variance in dollars select an option (b) Compute the labor price and quantity variances. Labor price variance $enter a dollar amount select an...
Simba Company’s standard materials cost per unit of output is $9.24 (2.10 pounds x $4.40). During...
Simba Company’s standard materials cost per unit of output is $9.24 (2.10 pounds x $4.40). During July, the company purchases and uses 2,835 pounds of materials costing $15,026 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance $ Materials price variance $ Materials quantity variance $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT