Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. erie company manufactures a mobile fitness device

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company...

60.1K

Verified Solution

Question

Accounting

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The
abor standards that have been set for one Jogging Mate are as follows:
During August, 9,305 hours of direct labor time were needed to make 19,500 units of the Jogging Mate. The direct labor cost totaled
$53,039 for the month.
Required:
What is the standard labor-hours allowed (SH) to makes 19,500 Jogging Mates?
What is the standard labor cost allowed (SH SR) to make 19,500 Jogging Mates?
What is the labor spending variance?
What is the labor rate variance and the labor efficiency variance?
The budgeted variable manufacturing overhead rate is $4.50 per direct labor-hour. During August, the company incurred $48,386 in
variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month.
For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None"
for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)
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

Biology
1.2K views

identify two transcription factors that have critical roles in the immune response

Mechanical Engineering
1.2K views

Indicate whether the following statements are true or false. Explain. Rate of energy transfer induced as a...

Biology
1.2K views

In the Miller Dunes system marram grass is known as the great stabilizer because OA...

Basic Math
1.2K views

For the geometric sequence with a 32 and r= -1/4, find each(a) the first five...

Calculus
1.2K views

17 G x x 2et 19 F x x 5 21 g x x 23...

Accounting
1.2K views

The merchandise purchases budget depends on information from the sales budget. True False

Accounting
1.2K views

Bank Reconciliation and Entries The cash account for American Medical Co. at April 30 indicated...

Accounting
1.2K views

Omar Inc. manufactures an advanced swim fin for scuba divers. Management is now preparing detailed...

Accounting
1.2K views

Bridgeport Company has hired a consultant to propose a way to increase the company's revenues....

Accounting
1.2K views

Required information E5-5 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO...

Finance
1.2K views

The Bank of Canada is responsible for maintaining the value of the Canadian dollar, and...

Finance
1.2K views

on 2 Ross has been saving all of his working life for retirement. He believes...