What was the direct labor cost variance

Assignment Help Accounting Basics
Reference no: EM132199458

Question - The Ford Company developed the following standards for the manufacture of its product:

Each unit should have 4 pounds of direct materials purchased at $12 per pound.

Each unit should be produced in 3 hours at a direct labor cost of $18 per hour.

Actual production was 40,000 units using 162,800 pounds of direct materials at a total cost of $1,960,300 and required 109,400 direct labor hours at a total cost of $1,820,600. What was the direct labor "cost" variance? Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance.

Reference no: EM132199458

Questions Cloud

Conditions under which alliances will be preferred : Identify four conditions under which alliances will be preferred to acquisitions.
Substitute for alliances : To what extent acquisitions can be a substitute for alliances?
Examine at least two scholarly references on rhios : Analyze how the development of RHIOs will improve the standard of healthcare in the United States. Support your answer with scholarly references.
What is financial risk : What is financial risk? How can firms hedge?
What was the direct labor cost variance : Actual production was 40,000 units using 162,800 pounds of direct materials at a total cost of $1,960,300, What was the direct labor "cost" variance
Importance of a manager being aware of the legal : Share with a colleague an insight you have gained about the importance of a manager being aware of the legal and ethical risks that may occur in the work
How the confrontation or conversation could be rewritten : Explain a situation in which you heard it said or someone said to you something that started a conflict or became a confrontation. Explain how it made you feel.
Research ehr systems : How can you adapt EHR systems to serve national public health policy and practice? Support your rationale with appropriate scholarly references.
What sources of power have you observed in your career : What sources of power have you observed in your career? Examples?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the correct amount of net income for june and the

Econo Company, an electronics repair store, prepared the unadjusted trial balance shown below at the end of its first year of operations. Determine the correct amount of net income for June and the total assets, liabilities, and owner's equity at Jun..

  What benefits should derive from using the composite method

How should Portland have calculated the manufacturing machinery's annual depreciation in its first year of operation?

  Variation from budget

Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable?

  Declined in value since acquired

LO.1, 2, 3, 10 Simon owns stock that has declined in value since acquired. He has decided either to give the stock to his nephew, Fred, or to sell it and give Fred the proceeds.

  Record the conversions using the book value method

On January 1, 2014, Gottlieb Corporation issued $4,000,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into eight shares of Gottlieb Corporati..

  Gaap and economic consequences

The following letter was sent to the SEC and the FASB by leaders of the business community. Dear Sirs: The FASB has been struggling with accounting for derivatives and hedging for many years.

  What is the amount of gain or loss on the sale

Jake purchased a $205,000 crane for his construction business. What is the amount of gain or loss on the sale

  What are the financial implications of your plan

What are the financial implications of your plan? Specifically, what is the impact of your action plan on Wilkerson's bottom line

  Compute the degree of operating leverage for each company

Company A is a manufacturer with current sales of $3,300,000 and a 60% contribution margin. Compute the degree of operating leverage for each company

  Why is it important for business managers to be familiar

1. why do we say money has time value?2. why is it important for business managers to be familiar with time value of

  Crdons boat yard inc repairs stores and cleans boats for

cardons boat yard inc. repairs stores and cleans boats for customers. it is completing the accounting process for the

  State effects of procedure on concerns financial statements

State the effects of this procedure on the concern's financial statements and comment on the acceptability of the procedure for use in preparing financial state

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd