Question
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 | 2 hrs. @ $16 per hr. | 16,400 | hrs. @ $16.60 per hr. | |
| Overhead | 2 hrs. @ $13 per hr. | $ | 222,300 | |
| Units manufactured | 8,300 | |||
Exercise 21-9 Direct materials variances LO P3
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity
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 | 2 hrs. @ $16 per hr. | 16,400 | hrs. @ $16.60 per hr. | |
| Overhead | 2 hrs. @ $13 per hr. | $ | 222,300 | |
| Units manufactured | 8,300 | |||
Exercise 21-10 Direct labor variances LO P3
Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate
AP = Actual Price SP = Standard Price
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Accounting For Managers And Entrepreneurs
Authors: Charles T. Horngren
9th Edition
1323167897, 9781323167892
