7. The following labor standards have been established for a particular product:

Question

7. The following labor standards have been established for a particular product: Standard labor-hours per unit of output. The following data pertain to operations concerning the product for the last month: 83 hours $12.10 per hour Actual hours worked Actual total labor cost.$71.370 6,100 hours Actual output. 900 units What is the labor efficiency variance for the month? A. $19,017 F B. $19,017 U C. $16,029 F D. $16,577 F 8. A corporation produces metal telephone poles. In the most recent month, the company budgeted production of 4,100 poles. Actual production was 4,400 poles. According to standards, each pole requires 7.0 machine hours. The actual machine hours for the month totaled 31,140. The standard variable manufacturing overhead rate is $2.50 per machine hour. The actual variable manufacturing overhead cost for the month was $83,787 The variable overhead efficiency variance is: A $6,787F B. $6,787U C. $850 F D. $850 U 9. The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate. 1.7 hours $14.05 per hour The following data pertain to operations concerning the produt for the last month: 3,700 hours Actual hours worked Actual total labor cost.$50,690 Actual output.. 2,300 units What is the labor rate variance for the month? A. $1,295 F B. $2,877 F C. $4,246 F D. $4,246 U

Explanation / Answer

Q7C $16029 F Standard Actual Particulars Qty/ hours Rate amount Qty/ hours Rate amount Labour              7,470.00               12.1000            90,387.00              6,100.00                    11.70            71,370.00 Actual output                  900.00 Labour hrs reqd (900*8.3)              7,470.00 DLEV = (SH-AH)SR DLEV = (7470 - 6100)11.70 DLEV = 16029 F Q8 D 850 U VOEV = (SH-AH)SR VOEV = (4400*7 - 31140)2.5 VOEV = 850 U Q9 A1,295 F DLRV= (SR-AR)AH DLRV= (14.05 - 50690/3700)3700 DLRV= (14.05 - 13.70)3700 DLRV= 1,295 F

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