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Anni [7]
3 years ago
6

Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.01 hours. During the

month of April, 550,000 bottles were produced using 13,000 labor hours @ $8.50. The standard wage rate is $7.50 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent. $
Business
1 answer:
Phantasy [73]3 years ago
6 0

Answer:

Total variance= 69,250 unfavorable

Explanation:

Giving the following information:

Each bottle has a standard labor requirement of 0.01 hours. During April, 550,000 bottles were produced using 13,000 labor hours for $8.50. The standard wage rate is $7.50 per hour.

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (5,500 - 13,000)*7.5= 56,250 unfavorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (7.5 - 8.5)*13,000= 13,000 unfavorable

Total variance= 69,250 unfavorable

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3 years ago
QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for th
pogonyaev

Answer:

$544

Explanation:

LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.

The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th

= 100 × 2.34 = $234

That leaves 250 - 100 = 150 units.

The cost of goods sold would be next allotted to the inventory purchased on the 9th

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I hope my answer helps you

5 0
3 years ago
Glenn is purchasing a home for $400,000. the property appraised at $415,000 and glenn is financing $300,000. what's the loan-to-
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<h3>Explanation:</h3>
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