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A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 50,400 lbs. @ $8.20 per lb.
A manufactured product has the following information for June.
Standard | Actual | |||
Direct materials | (6 lbs. @ $8 per lb.) | 50,400 | lbs. @ $8.20 per lb. | |
Direct labor | (3 hrs. @ $16 per hr.) | 24,700 | hrs. @ $16.50 per hr. | |
Overhead | (3 hrs. @ $11 per hr.) | $ | 279,800 | |
Units manufactured | 8,300 | |||
1) Compute the standard cost per unit and the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable.
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2)Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
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3)
Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.
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