CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES ACC 102 Project #5 Waterways Continuing Problem 11 - (Part Level Submission Waterways Continuing Problem 11 a-g (Part Level Submission) Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "Ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Review Score Review Results by Study Objective Materials Item Per unit Cost Metal 1 lb. 63c per Ib. Plastic 12 oz $1.00 per Ib. Rubber 4 OZ. B&c per lb. Direct labor Item Per unit Cost Labor 15 min. $7.00 per hr. Predetermined overhead rate based on direct labor hours - 53.83 The January figures for purchasing, production, and labor are: The company purchased 230,000 pounds of raw materials in January at a cost of 784 a pound. Production used 230,000 pounds of raw materials to make 116,000 units in January. Direct labor spent 18 minutes on each product at a cost of $6.00 per hour. Overhead costs for January totaled $40,482 variable and $75,000 fixed. Answer the following questions about standard costs. (a) ACC 102 Project #5 * Waterways Continuing Problem 11 a-g (Part Level Submission) (a) * Your answer is incorrect. Try again. Review Score Review Results by Study Objective What is the materials price variance? (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answer to 0 decimal places, e.g. 125.) Materials price variance Favorable V Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 1 of 15 used