Question
1. A manufactured product has the following information for June.StandardActualDirect materials(6 lbs. @ $8 per lb.)48,500lbs. @ $8.10 per lb.Direct labor(2 hrs. @ $16 per
1.
A manufactured product has the following information for June.StandardActualDirect materials(6 lbs. @ $8 per lb.)48,500lbs. @ $8.10 per lb.Direct labor(2 hrs. @ $16 per hr.)15,700hrs. @ $16.50 per hr.Overhead(2 hrs. @ $12 per hr.)$198,000Units manufactured8,000Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
2.A manufactured product has the following information for June.StandardActualDirect materials(6 lbs. @ $8 per lb.)48,500lbs. @ $8.10 per lb.Direct labor(2 hrs. @ $16 per hr.)15,700hrs. @ $16.50 per hr.Overhead(2 hrs. @ $12 per hr.)$198,000Units manufactured8,000Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Quality Control Procedure For Statutory Financial Audit An Empirical Study
Authors: Siddhartha Sankar Saha, Mitrendu Narayan Roy
1st Edition
1787142272, 9781787142275
