Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Connie's Candy establishes a standard rate per hour for labor of $11. Each box of candy is expected to require 3 hours of labor.

image text in transcribed
1. Connie's Candy establishes a standard rate per hour for labor of $11. Each box of candy is expected to require 3 hours of labor. Connie's Candy found that the actual rate of pay per hour for labor was $19. Actual labor to make each box was 12 hours. What is the total direct labor variance? 2. Connie's Candy Company produces various types of candies that they sell to retailers. Connie's Candy establishes a standard price for candy-making materials of $12 per pound. Each box of candy is expected to use 3 pounds of candy-making materials. Connie's Candy found that the actual price of materials was $20 per pound. They actually used 1 pounds of materials to make each box. What is the direct material price variance? 3. Connie's Candy establishes a standard rate per hour for labor of $11. Each box of candy is expected to require 5 hours of labor. Connie's Candy found that the actual rate of pay per hour for labor was $18. Actual labor to make each box was 5 hours. What is the direct labor rate variance? 4. Connie's Candy Company produces various types of candies that they sell to retailers. Connie's Candy establishes a standard price for candy-making materials of $13 per pound. Each box of candy is expected to use 1 pounds of candy-making materials. Connie's Candy found that the actual price of materials was $19 per pound. They actually used 15 pounds of materials to make each box. What is the total direct material variance? 5. Connie's Candy Company produces various types of candies that they sell to retailers. Connie's Candy establishes a standard price for candy-making materials of $20 per pound. Each box of candy is expected to use 2 pounds of candy-making materials. Connie's Candy found that the actual price of materials was $12 per pound. They actually used 17 pounds of materials to make each box. What is the direct material quantity variance? 6. Connie's Candy establishes a standard rate per hour for labor of $15. Each box of candy is expected to require 7 hours of labor. Connie's Candy found that the actual rate of pay per hour for labor was $12. Actual labor to make each box was 15 hours. What is the direct labor time variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Sector Accounting

Authors: Rowan Jones, Maurice Pendlebury

6th Edition

0273720368, 9780273720362

More Books

Students also viewed these Accounting questions

Question

What advantages does this tactic offer that other tactics do not?

Answered: 1 week ago

Question

What is the timeline for each tactic?

Answered: 1 week ago