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Rudik [331]
3 years ago
8

Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direc

t labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: 3,750 units of compound were produced during the month. There was no beginning direct materials inventory. Direct materials purchased: 12,000 ounces for $225,000. The ending direct materials inventory was 2,000 ounces. Direct labor-hours worked: 5,600 hours at a cost of $67,200. Variable manufacturing overhead costs incurred amounted to $18,200. Variable manufacturing overhead applied to products: $18,375. The labor efficiency variance for October is:____________
Business
1 answer:
konstantin123 [22]3 years ago
4 0

Answer:

Direct labor time (efficiency) variance= $4,375 unfavorable

Explanation:

Giving the following information:

Direct labor: 1.4 hours at $12.50 per hour

Direct labor-hours worked: 5,600 hours at a cost of $67,200.

Production: 3,750 units

<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 3,750*1.4= 5,250

Direct labor time (efficiency) variance= (5,250 - 5,600)*12.5

Direct labor time (efficiency) variance= $4,375 unfavorable

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