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ACTUAL for the current year: Purchase of raw materials (8,000 sq ft at $13.50) $108,000 Raw materials used 7,700 yards Direct Labor costs (19,200 at
ACTUAL for the current year:
Purchase of raw materials (8,000 sq ft at $13.50) | $108,000 | |
Raw materials used | 7,700 yards | |
Direct Labor costs (19,200 at $25.00) Actual variable overhead cost $366,300 | $480,000 | |
Units produced | 6750 units | |
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Standards per unit of product: |
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Raw materials | 1.2 yards at $13.00/sq ft | |
Direct labor variable overhead 18.50 per direct labor hour | 2.8 hours at $25.10/hr | |
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Compute the following variances:
material variance (price and quantity)
labor variance (rate and efficiency)
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