A fire destroyed most of Bartnev Products Corporations records. Dana Lavrov, the companys accountant, is trying to
Question:
Standard materials quantity per unit ..... 2.5 pounds
Standard materials price .......... $4 per pound
Standard labor quantity per unit ....... 0.6 hour
Standard labor price ............. $12 per hour
Actual number of products produced ...... 8,000 units
Materials price variance ........... $1,584 Favorable
Materials usage variance ........... $800 Favorable
Labor price variance ........... $1,952 Unfavorable
Labor usage variance ............ $960 Unfavorable
Required
a. Determine the actual amount of materials used.
b. Determine the actual price per pound paid for materials.
c. Determine the actual labor hours used.
d. Determine the actual labor price per hour.
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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