Halo Enterprises Recently Experienced a Fire, Forcing the Company to Use

question 28

Essay

Halo Enterprises recently experienced a fire, forcing the company to use incomplete information to analyze operations. Consider the following data and assume that all materials purchased during the period were used in production:
Direct materials:
Standard price per pound: $9
Actual price per pound: $8
Price variance: $20,000F
Total of direct-material variances: $2,000F
Direct labor:
Actual hours worked: 40,000
Actual rate per hour: $15
Efficiency variance: $28,000F
Total of direct-labor variances: $12,000U
Halo completed 12,000 units.
Required:
Determine the following: (1) actual materials used, (2) direct-material quantity variance, (3) direct-labor rate variance, (4) standard labor rate per hour, and (5) standard labor time per finished unit.

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Definitions:

Verbal Reports

The use of spoken or written language to describe thoughts, feelings, perceptions, or experiences.

Emotional States

The various forms of feelings or moods that can fluctuate over time and are influenced by a person's circumstances, relationships, or internal thoughts.

Obesity

A medical condition characterized by excess body fat that presents a risk to health, typically measured by body mass index (BMI).

Overweight

A condition characterized by weight that is higher than what is considered normal or healthy for a certain height, but not classified as obesity.