Select all that were the source for the Direct Labor favorable rate variance. a. Actual direct labor hours per job were less than budgeted direct labor hours per job. b. Actual direct labor cost per hour was less than budgeted direct labor cost per hour. c. Actual direct labor hours per job were greater than budgeted direct labor hours per job. d. Actual number of jobs completed was greater than budgeted number of jobs. e. Actual number of jobs completed was less than budgeted number of jobs. f. Actual direct labor cost per hour was greater than budgeted direct labor cost per hour.

Select all that were the source for the Direct Labor favorable rate variance. a. Actual direct labor hours per job were less than budgeted direct labor hours per job. b. Actual direct labor cost per hour was less than budgeted direct labor cost per hour. c. Actual direct labor hours per job were greater than budgeted direct labor hours per job. d. Actual number of jobs completed was greater than budgeted number of jobs. e. Actual number of jobs completed was less than budgeted number of jobs. f. Actual direct labor cost per hour was greater than budgeted direct labor cost per hour.

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Description: Select all that were the source for the Direct Labor favorable rate variance.a. Actual direct labor hours per job were less than budgeted direct labor hours per job.b. Actual direct labor cost per hour was less than budgeted direct labor cost per ho

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

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Similar questions

What are some possible reasons for a direct labor time variance? A. utility usage decrease B. less qualified workers C. office supplies spending D. sales decline
Which of the following is true concerning labor variances that are not material in amount? a. They are closed to Cost of Goods Sold. b. They are prorated among Work in Process, Finished Goods, and Cost of Goods Sold. c. They are prorated among Materials, Work in Process, Finished Goods, and Cost of Goods Sold. d. They are reported as part of Overall Variance on the balance sheet at the end of the year.
What are some possible reasons for a labor rate variance? A. hiring of less qualified workers B. an excess of material usage C. material price increase D. utilities usage change
Which of the following is a possible cause of an unfavorable labor rate variance? A. hiring too many workers B. hiring higher-quality workers at a higher wage C. making too many units D. purchasing too much material
Select all that were the source for the Indirect Costs favorable efficiency variance. a. Actual indirect costs per direct labor hour was less than budgeted indirect cost per direct labor hour. b. Actual indirect costs per direct labor hour was greater than budgeted indirect cost per direct labor hour. c. Actual number of jobs completed was less than budgeted number of jobs. d. Actual number of jobs completed was greater than budgeted number of jobs. e. Actual number of direct labor hours per job was less than budgeted direct labor hours per job. f. Actual number of direct labor hours per job was greater than budgeted direct labor hours par job. QUESTION 5 Select all that were the source for the Sales Activity favorable variance. a. Actual number of units completed was greater than budgeted number of units. b. Actual selling price per unit was less than budgeted. c. Actual number of units completed was less than budgeted number of units. d. Actual selling price per unit was greater than…
Select all that were the source for the Direct Labor favorable effeciency variance. a. Actual number of jobs completed was greater than budgeted number of jobs. b. Actual direct labor hours per job were greater than budgeted direct labor hours per job. c. Actual direct labor hours per job were less than budgeted direct labor hours per job. d. Actual number of jobs completed was less than budgeted number of jobs. e. Actual direct labor cost per hour was greater than budgeted direct labor cost per hour. f. Actual direct labor cost per hour was less than budgeted direct labor cost per hour. QUESTION 3 Select all that were the source for the Indirect Costs unfavorable rate variance. a. Actual number of direct labor hours per job was less than budgeted direct labor hours per job. b. Actual number of jobs completed was less than budgeted number of jobs. c. Actual number of jobs completed was greater than budgeted number of jobs. d. Actual number of direct labor hours per job was greater than…
Which of the following is true of direct labor variances? a. The labor efficiency variance measures the difference between what was paid to direct laborers and what should have been paid. b. The labor rate variance measures the difference between the labor hours that were actually used and the labor hours that should have been used. c. The labor rate variance measures the difference between the labor hours that were originally budgeted and the labor hours that should have been used. d. The labor rate and labor efficiency variances will always add up to the total labor variance. e. The labor rate variance measures the difference between the labor hours that were actually used and the labor hours that were originally budgeted.
The labor efficiency variance is the difference between the actual quantity of hours at the standard rate and the standard direct labor hours at the standard rate. A. True B. False
The direct labor rate variance is calculated by multiplying the standard hours that should have been worked for the actual output by the difference between the standard labor rate and the actual labor rate. O True O False
Which of the following would produce a labor rate variance? A. Poor quality materials causing breakage and work interruptions.B. Use of persons with high hourly wage rates in tasks that call for low hourly wage rates.C. Excessive number of hours worked in completing a job.D. An unfavorable variable overhead spending variance.
The variable overhead spending variance is most effective in measuring: O how well overhead spending matches the targets set in the original budget at the beginning of the year. O the efficiency with which the activity base was utilized in production. O the excessive use of overhead resources. O the utilization of plant facilities.
An unfavorable labor rate variance is created when: Multiple Choice actual labor hours worked exceed standard hours allowed. actual hours worked are less than standard hours allowed. actual wages paid are less than amounts that should have been paid. actual units produced exceed budgeted production levels. actual wages paid exceed amounts that should have been paid for the number of hours worked.