Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for
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Question:
Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:
Standard Quantity Standard Price Rate Standard Unit Cost
Direct materials plastic square foot $ per square foot $
Direct labor hour $ per hour
Variable manufacturing overhead based on direct labor hours hour $ per hour
Fixed manufacturing overhead $: units
Parker Plastic had the following actual results for the past year:
Number of units produced and sold
Number of square feet of plastic used
Cost of plastic purchased and used $
Number of labor hours worked
Direct labor cost $
Variable overhead cost $
Fixed overhead cost $
Required:
Calculate Parker Plastics direct labor rate and efficiency variances.
Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and \"None\" for no effect ie zero variance
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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