Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bettys Bakery has the following standard cost sheet for one unit of its most popular cake: SQ SP Direct materials 1.2 pounds $ 1.50 per

Bettys Bakery has the following standard cost sheet for one unit of its most popular cake:

SQ SP
Direct materials 1.2 pounds $ 1.50 per pound
Direct labor 0.8 hours $ 12.00 per hour

During the month of May, the company made 840 cakes and incurred the following actual costs.

Direct materials purchased and used (1,220 pounds) $1,586

Direct labor (900 hours) $10,350

Required:

1. Calculate the direct materials price variance.

2. Calculate the direct materials quantity variance.

3. Calculate the direct materials variance.

4. Calculate the direct labor rate variance.

5. Calculate the direct labor efficiency variance.

6. Calculate the direct labor spending 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

How To Beat The IRS At Its Own Game Strategies To Avoid And Fight An Audit

Authors: Amir D Aczel

1st Edition

1568580487, 978-1568580487

More Books

Students also viewed these Accounting questions