Acc102 Principles of Managerial Accounting: Final Project - Tartan Supply Company

Acc102 Principles of Managerial Accounting Final Project (Version 1) 4. Standard cost system labor variance (25 points) The following computations of March labor variances for Tartan Supply Company are incomplete. The missing items are labeled (a) through (d). Labor rate variance = 5,500 hours [(a) - $10.40] = $275 favorable Labor efficiency variance = (b) [5,200 hours - (c)] = $(d) On the appropriately labeled line, identify each missing item by name (a through c) and show the missing value (a through d). Show supporting computations in the space provided. (a) _________________________ $_______________ (b) _________________________ $_______________ (c) _________________________ ____________________ hours (d) $______________ F or U [Circle the correct term.] (e) During March, the supervisor left for vacation without arranging for a replacement. Which variances would have been most affected by this situation? _________________________