Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aaha Inc. produces premium protective automotive covers. The direct materials and direct labour standards for one car cover are as follows: Direct materials Direct labour

Aaha Inc. produces premium protective automotive covers. The direct materials and direct labour standards for one car cover are as follows: Direct materials Direct labour Standard Quantity or Hours 7.00 getres of cloth 0.30 hours In September, the following activity was recorded Standard Price or Rate $8 per metre $ 16 per hour Standard Cost $56.00 54.80 17,500 metres of cloth were purchased at a cost of $7.50 per metre. All of the purchased material was used to produce 2,500 car covers. 520 direct labour-hours were recorded at a total labour cost of $8,320 Required: 1. Compute all direct materials variances for September (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Direct materials price variance i Direct matenals quantity variance Total direct material cost variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Secrets Of Restraurant Accounting With Quickbooks

Authors: Andrei Besedin

1st Edition

B07BH591FQ

More Books

Students also viewed these Accounting questions