Exam 9: Standard Costing: a Functional-Based Control Approach

During January,7,000 direct labour hours were worked at a standard cost of $20 per hour.If the direct labour rate variance for January was $17,500 favourable,what would be the actual cost per direct labour hour?

Claire Company uses a standard costing system.The following information pertains to direct labour costs for the month of February: Standard direct labour rate per hour \ 15.00 Actual direct labour rate per hour \ 13.50 Labour rate variance \ 18,000 favourable Actual output 1,000 units Standard hours allowed for actual production 10,000 hours - What is the total labour budget variance for Claire Company?

Harry Company's standard variable overhead rate is $6 per direct labour hour,and each unit requires 2 standard direct labour hours.During March,Harry recorded 6,000 actual direct labour hours,$37,000 actual variable overhead costs,and 2,900 units of product manufactured. What is the variable overhead efficiency variance for March for Harry?

Which of the following is included in the standard cost sheet?

If a company produces fewer units than expected,what will be the result?

Reynolds Manufacturing Company has the following information pertaining to a normal monthly 10,000 units. Standard factory overhead rates are based on a normal monthly volume of one standard direct hour per unit. Standard factory overhead rates per direct labour hour are: Fixed \ 6.00 Variable 10.00 \1 6.00 Units actually produced in current month 9,000 units Actual factory overhead costs incurred (includes \ 70,000 fixed) \ 156,000 Actual direct labour hours 9000 hours -Refer to the figure.What is the fixed overhead volume variance for Reynolds?