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 uses standards...

90.2K

Verified Solution

Question

Accounting

image

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: During August, 9,410 hours of direct labor time were needed to make 19,400 units of the Jogging Mate. The direct labor cost totaled $50,814 for the month. Required: 1. What is the standard labor-hours allowed (SH) to makes 19,400 Jogging Mates? 2. What is the standard labor cost allowed (SHSR) to make 19,400 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.30 per direct labor-hour. During August, the company incurred $45,168 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.)

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

Algebra
1.2K views

Birim emberde Trigonometrik Oranlar 6 X m Yukar daki O merkezli birim emberde cos 34...

Basic Math
1.2K views

Find the equation of the hyperbola with: (a) Foci (1, −3) and (1, 5) and one...

Biology
1.2K views

The oxygen revolution the transition from anoxic to oxic conditions on earth took place abruptly...

Physics
1.2K views

54 6 The electric potential in a certain region is expressed by V 6x 8xy...

Physics
1.2K views

A trolley of mass 18 kg is pulled with a velocity which depends on time...

Basic Math
1.2K views

The length of human pregnancies from conception to birth varies according to a distribution that...

Statistics
1.2K views

Surveys tend to suffer from low response rates Based on past experience a researcher determines...

Accounting
1.2K views

A company uses the indirect method to determine its cash flows from operating activities. Use...

Accounting
1.2K views

(please make it clear step by step with calculation not just text) Question 3 Public...

Accounting
1.2K views

A trial balance with selected accounts at their normal balances before adjustments included the following:...

Accounting
1.2K views

There is two images attached with all the necessary information. ...

Accounting
1.2K views

On December 31,2021, the end of its first year of operations, Pharoah Company owned the...