# Compute the labor rate variance?

AJack Partnership manufactures jackhammers. AJack Partnership is looking for guidance in the variances of its standard cost system. It would like you to assist in understanding material price, material quantity, rate, efficiency, and overhead variances.

The standard cost card information for unit of product is below:
– Direct materials: 4 pounds at \$9.00 per pound of steel = \$36.00
– Direct labor: 2.0 direct labor hours at \$20.00 per hour = 40.00
– Variable overhead: 100% of a direct labor hour at \$10.00 per hour = 20.00
– Fixed overhead: 100% of a direct labor hour at \$20.00 per hour = 40.00
– Standard cost per unit = \$136.00

The following information is available in the year just finished:

AJack Partnership manufactured 10,000 jackhammers during the year.
The total purchases of steel in the year at a cost of \$8.75 per pound were 45,000 pounds.
All of the material was used to manufacture the 10,000 jackhammers.
There was no beginning or ending inventory.
The material was purchased on January 15, 20XX
AJack Partnership incurred 21,000 direct labor hours at \$19.50 per hour.
During the year, one production order was issued on February 15 20XX, number 789, for 10,000 jackhammers.
Actual variable overhead was \$210,000.
Actual fixed overhead was \$405,000.

Assignment Guidelines:

A. Material
1. Compute the material price variance for Jan 15, 20XX.
2. Provide the accounting entry for the price variance.

B. Labor
1. Compute the labor rate variance.
2. Compute the labor efficiency variance.
3. Provide the accounting entry for the labor rate and efficiency variances.

C. Overhead
1. Compute the variable overhead rate variance.
2. Compute the variable overhead efficiency variance.
3. Provide the accounting entry for the overhead rate and efficiency variances.

Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
• 24/7 support
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
• Expert Proofreading
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

## Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

### Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

### Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Academic level
Number of pages
Urgency

Order your essay today and save 10% with the discount code tCPCOVID10