Question
A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 44,900 lbs. @ $8.20 per lb.
A manufactured product has the following information for June.
| Standard | Actual | |||
| Direct materials | 6 lbs. @ $8 per lb. | 44,900 | lbs. @ $8.20 per lb. | |
| Direct labor | 3 hrs. @ $16 per hr. | 21,800 | hrs. @ $16.40 per hr. | |
| Overhead | 3 hrs. @ $13 per hr. | $ | 294,300 | |
| Units manufactured | 7,400 | |||
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 AP = Actual Price SP = Standard Price
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Operational Auditing Principles And Techniques For A Changing World
Authors: Hernan Murdock
2nd Edition
1000388247, 9781000388244
