Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $4 per pound)
Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $4 per pound) Direct labor (3 hours @ $15 per hour) $ 60 45 During June the company incurred the following actual costs to produce 8,100 units. Direct materials (123,600 pounds @ $3.70 per pound) Direct labor (28,900 hours @ $15.20 per hour) AR = Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP $ 457,320 439,280 Actual Price SP=Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or Actual Cost Required 1 Required 2 > Standard Cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started