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ActualdirectmaterialsusedActualdirectlaborusedActualunitsproducedStandardquantityandpriceperunitfordirectmaterialsStandardquantityandrateperunitfordirectlaborAR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice18,000poundsat$5.05perpound18,635hoursat$39perhour34,0000.50poundat$5.00perpound0.50hourat$40perhour (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Complete this question by entering your
ActualdirectmaterialsusedActualdirectlaborusedActualunitsproducedStandardquantityandpriceperunitfordirectmaterialsStandardquantityandrateperunitfordirectlaborAR=ActualRateSR=StandardRateAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice18,000poundsat$5.05perpound18,635hoursat$39perhour34,0000.50poundat$5.00perpound0.50hourat$40perhour (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Step by Step Solution
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Accounting, Chapters 1-13
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th Edition
