asap accounting

You have been given the following per unit information about the production of Silver Inc., and are asked to provide the plant manager with information for a meeting with the vice-president of operations:

	Standard Quantity	Standard Price	Actual Quantity	Actual Price
Direct materials	5 kg	$2.50 / kg	4.5 kg	$2.80 / kg
Direct labour	1.75 hours	$17 / hour	1.5 hours	$18 / hour

Production data, both budgeted and actual, for the year are as follows:

Description	Amount
Actual production (units)	43,000
Actual materials purchased and used (kg)	193,500

The plant manager has asked you to calculate the following variances: direct material price variance, direct material usage variance, direct labour rate variance, and the direct labour efficiency variance. Use your work to answer the following questions.

Question 17 (1.5 points)

Question 17 options:

The total direct material price variance is $_______________.

Enter your answer as a positive number.

Question 18 (1 point)

The direct material price variance is

Question 18 options:

a)	Favourable

b)	Neither favourable or unfavourable

c)	Unfavourable

Question 19 (1.5 points)

Question 19 options:

The total direct material usage variance is $_______________.

Enter your answer as a positive number.

Question 20 (1 point)

The direct material usage variance is

Question 20 options:

a)	Neither favourable or unfavourable

b)	Favourable

c)	Unfavourable

Question 21 (1.5 points)

Question 21 options:

The total labour rate variance is $_______________.

Enter your answer as a positive number.

Question 22 (1 point)

The direct labour rate variance is

Question 22 options:

a)	Neither favourable or unfavourable

b)	Unfavourable

c)	Favourable

Question 23 (1.5 points)

Question 23 options:

The total labour efficiency variance is $_______________.

Enter your answer as a positive number.

Question 24 (1 point)

The direct labour efficiency variance is

Question 24 options:

a)	Unfavourable

b)	Neither favourable or unfavourable

c)	Favourable