Calculate the labor price and quantity variances

Assignment Help Financial Accounting
Reference no: EM1376149

Lewis Company's standard labor cost of producing one unit of Product DD is 3.60 hours at rate of $12.00 per hour. During August, 43,600 hours of labor are incurred at a cost of $ 12.18 per hour to produce 11,900 units of Product DD.

Total labor variance $ ?

(b) Calculate the labor price and quantity variances.

Labor quantity variance $ ?
Labor price variance $ ?

(c) Calculate the labor price and quantity variances, assuming standard is 3.94 hours of direct labor at $12.37 per hour.

Labor quantity variance $ ?

Labor price variance $ ?

Reference no: EM1376149

Questions Cloud

Paddles can vary for their take benefit of : Exercise- Paddles can vary for their take benefit of you may go for one will fit your main criteria. You'll find a person's for the waves all year round, when it comes to bike racing
Evaluate the allen specialty organizations : Evaluate the Allen Specialty Organization's organization also plan for coordinating sales also advertising. Elucidate how will you move candidates who meet the qualifications though the hiring process.
Evaluate all of the materials and labor variances : Costello Corporation manufactures a particular product. The standard cost per unit of product is shown below.
Paddles vary throughout their begin using you can actually : Paddles vary throughout their begin using you can actually select person who will fit the necessities. You'll find ones for your dunes, just for racing and also models you might use when it comes to mounds and also fat-free standard water.
Calculate the labor price and quantity variances : Calculate the labor price and quantity variances, assuming standard is 3.94 hours of direct labor at $12.37 per hour.
Elucidate how about the quantitative approach : Elucidate how might principles of scientific management are useful to spring industries. Elucidate how about the quantitative approach.
Evaluate kimm''s total standard cost per unit : Kimm Company has gathered the subsequent information about its product - Evaluate Kimm's total standard cost per unit.
Illustrate what is the percent increase in productivity : Illustrate what is the percent increase in productivity due to installing the new process. This is for Hotel also Lodging Operations. Elucidate te various aspects of Human Resources, in the hospitality industry.
The public comment period closes on an osha proposed : The public comment period closes on an OSHA proposed regulation as well as your business had filed a public comment against the proposed regulation illumination that the regulation would not fix the problem that OSHA

Reviews

Write a Review

Financial Accounting Questions & Answers

  Evaluate return on common stockholders'' equity

Evaluate return on common stockholders' equity - Based on the preceding information, calculate return on common stockholders' equity.

  Why does holmes want reeds - inventory reduction sale

Why does Holmes want Reed's to have an inventory reduction sale, and what does he think will be accomplished by it?

  Evaluate the collins'' debt ratio

Impact of change in credit policy on the debt ratio - what will Collins' debt ratio be after the change in DSO is reflected in the balance sheet?

  Prepare a report on companys revenue for december

Prepare a report showing the spending variances and company's revenue for December.

  Prepare a single journal entry to record the incurred costs

Asset cost allocation - Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1, 2013 and use straight line method, prepare the December 31 adjusting entries to record depreciation for the 12 month..

  Prepare an income statement for the year

Prepare a Supporting Schedule of Costs of Goods Manufacturing for the year ended 31 st December, 2009. Prepare an Income Statement for the year ended 31 st December, 2009.

  Evaluate the npv of the project

The subsidiary will be sold at the end of three years for an estimated €9.9 million. evaluate the NPV of the project?

  Prepare your retirement plan for client

Prepare your retirement plan for Client Expected rate of return on retirement savings

  Present arguments in favor of cost allocation

Present arguments in favor of cost allocation Does cost allocation provide relevant information? Would a current-value approach to computation of fixed assets be preferable? Why?

  Evaluate operating income for rim and tip

Evaluate operating income for RIM and TIP, discretely, and the net operating income for both.

  Assigning responsibilities in responsibility centers

Assigning responsibilities in various responsibility centers and Advertising is handled by the corporate marketing departments, but the sales office controls a SMALL operating budget for entertainment expenses.

  Evaluate the maximum purchase price per unit

Evaluate the maximum purchase price per unit that Redi-Watt should be willing to pay to the outside contractor? Should the proposal be accepted for a price of $4,250 per unit to the contractor?

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