Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. direct labor variances bellingham company produce

Direct Labor Variances Bellingham Company produces a product that requires 5 standard direct...

50.1K

Verified Solution

Question

Accounting

Direct Labor Variances
Bellingham Company produces a product that requires 5 standard direct labor hours per unit at a standard hourly rate of $22.00 per hour. If 4,000 units used 20,600 hours at an hourly rate of $21.56 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct labor rate variance
b. Direct labor time variance
$
$
x
c. Direct labor cost variance
$
Favorable x
Feedback
Check My Work
Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit).
The labor cost variance is the difference between the actual and standard labor cost.
image

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

Advance Math
1.2K views

State and prove the Generalised Mean Value Theorem.

Psychology
1.2K views

Philosophy related. I need assistance in writing a one page essay. Answering the following information. Philosophy question...

Biology
1.2K views

What is the role of vaccination O make memory cells that protect you against future...

Biology
1.2K views

0 6 Distinguish between homologues and sister Chromatics

Geometry
1.2K views

Based on the data in this two-way table, if a flower is picked at random,...

Basic Math
1.2K views

or the diagram below the table gives the total number of blocks y in figure...

Statistics
1.2K views

A data set of values has a mean of 45 and standard deviation of 5...

Algebra
1.2K views

Solve the following absolute value inequality Select the correct answer below O 5 2 O...

Algebra
1.2K views

KLMNPQRS Find the given side length or angle measure 4 m R K 2 1...

Accounting
1.2K views

Selected comparative financlal statements of Korbin Company follow. Problem 17-2A (Algo) Part 2 ...

Accounting
1.2K views

E6-3(Algo) Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales...

Accounting
1.2K views

Use the following tax rates and limits: Employee and Employer OASDI: Employee* and Employer HI:...