9.3, i just need question 9.3 answard.
Apran wiat Ix and yieid ariances are. goibn CORNERSTONE EXERCISES JECTIVE 1 Cornerstone Exercise 9.1 Calculating Standard Quantities for Actual Production Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 24 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 980 oil changes. STONE 9.1 Calculate the number of quarts of oil that should have been used (SO) for 980 oil changes. Calculate the hours of direct labor that should have been used (SH) for 980 oil changes. what if there had been 970 oil changes in June? Would the standard quantities of oil (in quarts) and of direct labor hours be higher or lower than the amounts calculated in Require- ments 1 and 2? What would the new standard quantities be? equired Cormerstone Exercise 9.2 Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Refer to Cornerstone Exercise 9.1. Guillermo's Oil and Lube Company provided the following normation for the production of oil changes during the month of June: OBJECTIVE 3 CORNERSTONE Actual number of oil changes performed: 980 Actual number of quarts of oil used: 6,020 quarts Actual price paid per quart of oil: $5.10 Standard price per quart of oil: $5.05 Required: Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. boo , Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the graphical approach. Calculate the total direct materials variance for oil for June. 4 What if the actual number of quarts of oil purchased in June had been 6,100 quarts, and the materials price variance was calculated at the time of purchase? What would be the materi- als price variance (MPV? The materials usage variance (MUV Cornerstone Exercise 9.3 Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance Refer to Cornerstone Exercise 9.1. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June: OBJECTIVE CORNERST Actual number of oil changes performed: 980 ob Actual number of direct labor hours worked: 386 hours Actual rate paid per direct labor hour: $14.50 wplle Standard rate per direct labor hour: $14.00 moln Required: co 1 Calculate the direct labor rate variance (LRV) and the direct labor efficiency variance (LEV) for June using the formula approach. 2 Calculate the direct labor rate variance (LRV) and the direct labor efficiency variance (LEV) for June using the graphical approach. 3. Calculate the total direct labor variance for oil changes for June. 4. What if the actual wage rate paid in June was $12.40? What impact would that have had on the direct labor rate variance (LRV? On the direct labor efficiency variance (LEV? hovo aldener bbn n) stin hor od t ad noitubog leut OBJECTI limits to Determine When to Investigate a
