Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. variances: illustrate all variances for the direct

Variances: Illustrate all variances for the direct labor time and the materials price. Significance...

60.1K

Verified Solution

Question

Accounting

  1. Variances: Illustrate all variances for the direct labor time and the materials price.
  2. Significance of Variances: Evaluate the significance of the variances in terms of the potential to impact future budgeting decisions and planning.

Variances for Collar Sales

Variance

Favorable/ Unfavorable

Direct Labor Time Variance

(Actual Hours - Standard Hours) x Standard Rate

$ 320.00

Unfavorable

Direct Labor Rate Variance

(Actual Rate - Standard Rate) x Actual Hours

$ 90.00

Unfavorable

Direct Materials Quantity/Efficiency Variance

(Actual Quantity - Standard Quantity) x Standard Price

$ 546.00

Unfavorable

Direct Materials Price Variance

(Actual Price - Standard Price) x Actual Quantity

$ 594.00

Unfavorable

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

action potentials in cardiac muscle originates within a-pacemakers b-alpha neuron neuron c-gamma moror neuron d-spinal cord

Medical Sciences
Q

1.) How many relations are there from a set of size n to a set of...

Advance Math
Q

133 A equilibrium towards left and then set free to execute S H M Select...

Physics
Q

Jordan and 4 of his friends are are riding in a car. What is the...

Geometry
Q

Translate the sentence into a mathematical equation.The total variable cost of manufacturing x refrigerators is...

Basic Math
Q

how would i make a excel spread sheet on mac formatted correctly so that when...

Accounting
Q

el The following information pertains to Spee Co.'s 2016 sales: Cash sales $40,000 Gross Returns...

Accounting
Q

The following is the forecast level of inventory (in units) for a company. Opening Closing...

Accounting
Q

Swifty Corporation had net credit sales of $13,400,000 and cost of goods sold of $9,010,000...

Accounting
Q

Calculate the overhead rate based on direct labor cost.

Accounting
Q

5. Financial Accounts Cumbrian Renewables Ltd is a UK based company that specialises...

Accounting
Q

COOKIE & COFFEE CREATIONS INC. EXAMPLE: ...

Accounting