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Timothy Company employs standard costing. The standards and actual operating data for the month are as...

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Accounting

  1. Timothy Company employs standard costing. The standards andactual operating data for the month are as follows:
    Standards
    Direct materials3.0 pounds per unit @ $4.50 per pound
    Direct labor5.0 hours per unit @ $10.25 per hour
    Standard quantity allowed10,500 pounds
    Standard hours allowed17,500 hours
    Actual
    Direct materials purchased11,000 pounds @ $4.25 per pound
    Direct materials used10,700 pounds
    Direct labor17,300 hours @ $10.20 per hour

    The labor efficiency variance is:
    A.

    none of these

    B.

    $2,040 F

    C.

    $2,040 UF

    D.

    $2,050 F

    E.

    $2050 UF

QUESTION 21

  1. Timothy Company employs standard costing. The standards andactual operating data for the month are as follows:
    Standards
    Direct materials3.0 pounds per unit @ $4.50 per pound
    Direct labor5.0 hours per unit @ $10.25 per hour
    Standard quantity allowed10,500 pounds
    Standard hours allowed17,500 hours
    Actual
    Direct materials purchased11,000 pounds @ $4.25 per pound
    Direct materials used10,700 pounds
    Direct labor17,300 hours @ $10.20 per hour

    The overall direct materials variance is:
    A.

    $500 UF

    B.

    $1,775 F

    C.

    $1,775 UF

    D.

    none of these

    E.

    $500 F

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