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Pearson's MyLab & Mast >? @ Do Homework-Danielle × -> cle secure l https://www.mathxl.com/Student/PlayerHomework.aspx?hom.., Q Managerial Accounting F17 Homework: P11-52A Score: 0 of 2 pts P11-52A (similar to) Save 4-1 of 1 (0 complete) HW Score: 0%, o of 2. Question Help Kranny Music manufactures harmonicas. Kranny uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for July exist Kranny knows that the total direct labor variance for the month was $340 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.60 per hour. The standard direct labor hours for actual July outputs were 5,500. Read the requirements Requirement 1. Find the actual number of direct labor hours worked during July. First, find the actual direct labor price rate per hour. Then, determine the actual numpber of direct labor hours worked by setting up the computation of the total direct labor variancé as given Select the formula, then calculate the actual price per hour Actual direct labor rate per hour Choose from any list or enter any nurnber in the input fields and then click Check-Answer ?) 4 parts rema Clear All Check Answer

Explanation / Answer

Standard cost= standard hours* stadard rate per hour= 5500*8= 44000

Actual rate= standard rate-0.6= 8-0.6= 7.4

Actual labor cost= standard cost-favorable variance= 44000-340= 43660

Actual hours = actual cost/actual rate= 43660/7.4= 5900

Variacnes:

Standard Hours Standard rate Standard cost Actual Hours Actual rate Actual cost a b c=a*b d e f=d*e SH SR SC AH AR AC 5,500.00 8.00 44,000.00 5,900.00 7.40 43,660.00 Labor cost variance SC-AC 44000-43660 340.00 340 F Labor rate/Price variance AH*(SR-AR) 5900*(8-7.4) 3,540.00 3540 F Labor efficiency variance SR*(SH-AH) 8*(5500-5900) -3,200.00 3200 U

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