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ACC - Lewis Company?s




Question;Lewis Company?s standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.00 per hour. During August, 42,200 hours of labor are incurred at a cost of $13.17 per hour to produce 10,700 units of Product DD.(a) Compute the total labor variance.Total labor variance $Favorable Unfavorable Neither favorable nor unfavorable(b) Compute the labor price and quantity variances.Labor price variance $Neither favorable nor unfavorableUnfavorableFavorableLabor quantity variance $Favorable Neither favorable nor unfavorable Unfavorable(c) Compute the labor price and quantity variances, assuming the standard is 4.26 hours of direct labor at $13.34 per hour.Labor price variance $Neither favorable nor unfavorableFavorableUnfavorableLabor quantity variance $FavorableUnfavorableNeither favorable nor unfavorable


Paper#39719 | Written in 18-Jul-2015

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