Chapter 10 Inclass quiz

Chapter 10 Inclass quiz - the following additional...

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Acc 200P Name: ________________________ Lab Section #_________________ Chapter 10 At the end of its calendar year, Wolfpack Enterprises had the following information available relating to direct labor costs: Per the Flexible Budget Per the Actual Contribution Margin Income Statement Direct Labor Costs $2,100,000 $2,400,000 1. Based on the above information, what is the overall direct labor variance? Is it favorable or unfavorable? $___________ 2. In order to break-down the overall variance into rate versus efficiency variances,
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Unformatted text preview: the following additional information is given: • actual number of units produced and sold during the year was 100,000. • It was budgeted that each unit would require 60 minutes of direct labor at a cost of $.35 per minute. • Actual direct labor minutes and cost used during the year were 8,000,000 minutes at a cost of $.30 per minute. Based on this information, calculate the direct labor rate and efficiency variances....
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