uestion list - Question 1. Question 2 O Question 3 O Question 4 O Question 5 O Question 6 Question 7 K Lily Music manufactures harmonicas. Lily uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for November exist. Lily knows that the total direct labor variance for the month was $340 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.60 per hour. The standard direct labor hours for actual November outputs were 5,500. Requirements 1. Find the actual number of direct labor hours worked during November. First, find the actual direct labor rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. 2. Compute the direct labor rate and efficiency variances. Do these variances suggest that the manager may have made trade-offs? Explain. Print Done - X First, find the actual direct labor tting up the computation of the ctual direct labor rate per hour Cas 3 11 oint uest estio Question list Res % Question 1 (0/ O Question 3 (0/3) erial A Copyrig O Question 2 Question 4 Question 5 Question 6 Question 7 K D Lily Music manufactures harmonicas. Lily uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for November exist. Lily knows that the total direct labor variance for the month was $340 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.60 per hour. The standard direct labor hours for actual November outputs were 5,500. Read the requirements. Requirement 1. Find the actual number of direct labor hours worked during November. First, find the actual direct labor price rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. Select the formula, then calculate the actual price per hour. Actual direct labor rate per hour

uestion list - Question 1. Question 2 O Question 3 O Question 4 O Question 5 O Question 6 Question 7 K Lily Music manufactures harmonicas. Lily uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for November exist. Lily knows that the total direct labor variance for the month was $340 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.60 per hour. The standard direct labor hours for actual November outputs were 5,500. Requirements 1. Find the actual number of direct labor hours worked during November. First, find the actual direct labor rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. 2. Compute the direct labor rate and efficiency variances. Do these variances suggest that the manager may have made trade-offs? Explain. Print Done - X First, find the actual direct labor tting up the computation of the ctual direct labor rate per hour Cas 3 11 oint uest estio Question list Res % Question 1 (0/ O Question 3 (0/3) erial A Copyrig O Question 2 Question 4 Question 5 Question 6 Question 7 K D Lily Music manufactures harmonicas. Lily uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for November exist. Lily knows that the total direct labor variance for the month was $340 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.60 per hour. The standard direct labor hours for actual November outputs were 5,500. Read the requirements. Requirement 1. Find the actual number of direct labor hours worked during November. First, find the actual direct labor price rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. Select the formula, then calculate the actual price per hour. Actual direct labor rate per hour

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5EA: Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The...

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