7 80 37 50 Cost standards for one unit of product no 077 Direct material 3 pounds at $2 60 per pound Direct labor 5 hours at $7 50 per hour Actual results Units produced 8,000 units Direct material purchased 26,600 pounds at $2 80 Direct material used 23,700 pounds at $2 80 Direct labor 40,700 hours at $7 30 $ 74,480 66,360 297, 110 Use the information to compute the following variances The standard hours allowed for the work performed are $ 7 50 37 50 Cost standards for one unit of product no 077 Direct material 3 pounds at $2 50 per pound Direct labor 5 hours at $7 50 per hour Actual results Units produced 7,800 units Direct material purchased 26,000 pounds at $2 70 Direct material used 23,100 pounds at $2 70 Direct labor 40,100 hours at $7 30 $ 70,200 62,370 292,730 Use the information to compute the following variances The direct labor efficiency variance is s 7 80 44 40 Cost standards for one unit of product no 077 Direct material 3 pounds at $2 60 per pound Direct labor 6 hours at $7 40 per hour Actual results Units produced 6,700 units Direct material purchased 26,500 pounds at $2 80 Direct material used 19,800 pounds at $2 80 Direct labor 41,000 hours at $7 20 $ 74,200 55,440 295,200 Use the information to compute the following variances The direct labor rate variance is $ 7 80 43 80 Cost standards for one unit of product no c77 Direct material 3 pounds at $2 60 per pound Direct labor 6 hours at $7 30 per hour Actual results Units produced 6,800 units Direct material purchased 27,000 pounds at $2 80 Direct material used 20,100 pounds at $2 80 Direct labor 41,100 hours at $7 10 $ 75,600 56,280 291,810 Use the information to compute the following variances The direct material price variance is $ 7 50 43 80 Cost standards for one unit of product no 077 Direct material 3 pounds at $2 50 per pound Direct labor 6 hours at $7 30 per hour Actual results Units produced 6,800 units Direct material purchased 26,800 pounds at $2 70 Direct material used 20,100 pounds at $2 70 Direct labor 41,300 hours at $7 10 $ 72,360 54,270 293,230 Use the information to compute the following variances The direct material quantity varlance is

Question

7 80 37 50 Cost standards for one unit of product no  077  Direct material 3 pounds at $2 60 per pound Direct labor 5 hours at $7 50 per hour Actual results  Units produced 8,000 units Direct material purchased 26,600 pounds at $2 80 Direct material used 23,700 pounds at $2 80 Direct labor 40,700 hours at $7 30 $ 74,480 66,360 297, 110 Use the information to compute the following variances  The standard hours allowed for the work performed are  $ 7 50 37 50 Cost standards for one unit of product no  077  Direct material 3 pounds at $2 50 per pound Direct labor 5 hours at $7 50 per hour Actual results  Units produced 7,800 units Direct material purchased 26,000 pounds at $2 70 Direct material used 23,100 pounds at $2 70 Direct labor 40,100 hours at $7 30 $ 70,200 62,370 292,730 Use the information to compute the following variances  The direct labor efficiency variance is  s 7 80 44 40 Cost standards for one unit of product no  077  Direct material 3 pounds at $2 60 per pound Direct labor 6 hours at $7 40 per hour Actual results  Units produced 6,700 units Direct material purchased 26,500 pounds at $2 80 Direct material used 19,800 pounds at $2 80 Direct labor 41,000 hours at $7 20 $ 74,200 55,440 295,200 Use the information to compute the following variances  The direct labor rate variance is  $ 7 80 43 80 Cost standards for one unit of product no  c77  Direct material 3 pounds at $2 60 per pound Direct labor 6 hours at $7 30 per hour Actual results  Units produced 6,800 units Direct material purchased 27,000 pounds at $2 80 Direct material used 20,100 pounds at $2 80 Direct labor 41,100 hours at $7 10 $ 75,600 56,280 291,810 Use the information to compute the following variances  The direct material price variance is  $ 7 50 43 80 Cost standards for one unit of product no  077  Direct material 3 pounds at $2 50 per pound Direct labor 6 hours at $7 30 per hour Actual results  Units produced 6,800 units Direct material purchased 26,800 pounds at $2 70 Direct material used 20,100 pounds at $2 70 Direct labor 41,300 hours at $7 10 $ 72,360 54,270 293,230 Use the information to compute the following variances  The direct material quantity varlance is

Accepted Answer

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7.80 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.60 per pound Direct labor 5 hours at $7.50

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