Business, 16.08.2020 01:01 elizabethseoane1607

Justin Time Guitars manufactures electric guitars. The following data relate to the standards for direct labor: Standard direct labor hours per guitar Standard direct labor rate per hour Justin Time had the following actual results for March: Actual direct labor hours Actual total direct labor cost Actual number of guitars produced What is the direct labor efficiency variance for March?

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Answer from: ester32152

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Justin Time Guitars manufactures electric guitars. The following data relate to the standards for direct labor: Standard direct labor hours per guitar Standard direct labor rate per hour Justin Time had the following actual results for March: Actual direct labor hours Actual total direct labor cost Actual number of guitars produced What is the direct labor efficiency variance for March?

standard Ditect labour hour 3.5

Standard direct labour rate $17

Actual direct labour hour 650

Actual direct labour cost 26200

Actual number of guitars produced - 525

Answer

Efficiency variance =$20,187.5

Explanation

Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate

Hours

525 units should have taken (525× 3.5) = 1,837.5

but did take 650

efficiency variance (hours) 1187.5 favorable

standard labor rate × $ 17

Efficiency variance ($) $20,187.5 favorable

Efficiency variance =$20,187.5

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