Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bramble, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly

image text in transcribed

Bramble, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Bramble estimated 9,530 tybos would be produced in March. Bramble has established the following material and labor standards to produce one tybo: During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. The company produced 9,080 units during the month. 2. A total of 24,140 pounds of materials were purchased at a cost of $66,385. 3. A total of 24,140 pounds of materials were used in production. 4. 5,120 hours of labor were incurred during the month at a total wage cost of $56,320. Calculate the following variances for March for Bramble, Inc. Identify whether each variance is favorable or unfavorable. (a) Materials Price Variance $ (b) Materials Quantity Variance $ (c) Labor Price Variance $ (d) Labor Quantity 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_2

Step: 3

blur-text-image_3

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

The Internal Auditing Pocket Guide

Authors: J. P. Russell

1st Edition

0873895606, 978-0873895606

More Books

Students also viewed these Accounting questions

Question

2. What potential barriers would you encourage Samuel to avoid?

Answered: 1 week ago