1. Acme Inc. has the following information available:

1. Compute the material price and

2. quantity, and

3. the labor rate and

4. efficiency variances.

5. Describe the possible causes for this combination of favorable and unfavorable variances.A

Acme inc has the following information

Actual price paid for material $1.00

standard price for material $ 0.90

Actual quantity purchased and used in production 100

Standard quantity of unit produced 90

Actual labor rate per hour $15

standard labor rate per hour $16

actual hours 200

standard hour for units produced 220