Compute the total-price-quantity variances for labor, Accounting Basics

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Compute the total-price-quantity variances for labor

The standard cost of product 2525 includes 1.83 hours of direct labor at $13.90 per hour. The predetermined overhead rate is $20.60 per direct labor hour. During July, the company incurred 4,260 hours of direct labor at an average rate of $14.60 per hour and $69,276 of manufacturing overhead costs. It produced 1,900 units.

(a) Compute the total, price, and quantity variances for labor.

(b) Compute the total overhead variance.

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Accounting Basics: Compute the total-price-quantity variances for labor

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Q : Compute the total-price-quantity variances for labor

During July, the company incurred 4,260 hours of direct labor at an average rate of $14.60 per hour and $69,276 of manufacturing overhead costs. It produced 1,900 units. (a) Compute the total, price, and quantity variances for labor.

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Accounting Basics: Compute the total-price-quantity variances for labor

Reference No:- TGS065505

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the total-price-quantity variances for labor

Reference No:- TGS065505

Recent Questions Asked Accounting Basics

Q : How much gain must recognize on conversion

Q : Managing inventories and production operations

Q : Responsibility of the office of management and budget

Q : What price should it charge in order to break-even

Q : Compute the total-price-quantity variances for labor

Q : Beginning-of-the-year basis in partnership interest

Q : How much would your choice save in taxes

Q : What is the bottom line net income

Q : Taxable income from operations for the current year

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