How to calculate direct labor
[DOC File]Chapter 2--Cost Terminology and Cost Behaviors
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Labor Variance Analysis: The processing of a product requires a standard of 0.8 direct labor hours per unit for Operation 4-802 at a standard wage rate of $6.75 per hour. The 2,000 units actually required 1,580 direct labor hours at a cost of $6.90 per hour. Required: Calculate: labor rate variance or Labor …
[DOC File]Standard Costing and Variance Analysis Formulas:
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Standard: Material 3.5 feet per unit @ $2.60 per foot Labor 5 direct labor hours @ $8.50 per unit Actual: Material 95,625 feet used (100,000 feet purchased @ $2.50 per foot) Labor 122,400 direct labor hours incurred per unit @ $8.35 per hour 25,500 units were produced 1. Refer to Fitzhugh Company.
How to Calculate Direct Manufacturing Labor Costs | Chron.com
Assumes that indirect costs are closely correlated to Direct Labor. That is to say, we assume that the more direct labor a job consumes, the more of the indirect resources it consumes. OH Application = Overhead Rate * Direct Labor $ If the overhead application rate is 80%, a job that uses $100 of direct labor would be assigned $80 in overhead.
[DOCX File]4.2 Calculate Cost of Goods Sold
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Conversion Costs = Direct Labor + Factory Overhead--$14,400 + 9,600 - $24,000 DIF: Moderate OBJ: 2-4. 45. Refer to Brandt Company. Direct labor is paid $9.60 per hour and overhead for the month was $9,600. If there were 1,500 direct labor hours and $21,000 of raw material purchased, Cost of Goods Manufactured is: a. $49,100. b. $45,000. c ...
[DOC File]CHAPTER 5
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Each product required 6 pounds of material at $11 per pound and 2 hours of direct labor at $15 per hour. During 2003, 160,000 pounds of material were purchased and used for $1,750,000; payroll totaled $743,900 for 49,000 hours. Required: Calculate the direct materials price and usage variances and the direct labor rate and efficiency variances.
[DOC File]Chapter 7--Standard Costing and Variance Analysis
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Direct materials $181,000 Direct labor 120,000 Manufacturing overhead: Utilities, factory $10,000 Indirect labor 32,000 Depreciation of production equipment 28,000 70,000 Total product cost $371,000 b.
[DOC File]Consider the following costs:
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Using the cost hierarchy to calculate activity-based costs can help Hamilton to identify both the costs of individual activities and the cost of activities demanded by individual products. Hamilton can use this information to manage its business in several ways: ... ( 30,000 Direct labor costs (given) $100,000 $ 2.50 $ 46,000 $ 1.53 Equipment ...
[DOC File]Chapter 9--Standard Costing: A Functional-Based Control ...
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Direct labor hours 5,000 6,000 2,000. Administrative services are allocated based on the number of employees; janitorial services are allocated based on square footage. Overhead rates for the three producing departments are based on direct labor hours. Required:
[DOC File]Cost Terms, Concepts, and Classifications
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Materials costs, not surprisingly, consist of direct materials. Conversion costs consist of any other costs incurred to convert the raw materials into a finished product. This includes labor, both direct and indirect, and other overhead such as the cost of machinery, utilities, and supplies.
[DOCX File]4.1 Calculate Cost of Goods Manufactured
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Jul 28, 2010 · The direct labor rate is $8.10 per direct labor-hour. The production budget calls for producing 5,000 units in May and 5,400 units in June. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor …
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