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can you please help me solve this? Assume the following standards for Dahlgren's Gluten Free & Vegan Bakery, based on production of 2,500 loaves of
can you please help me solve this?
Assume the following standards for Dahlgren's Gluten Free & Vegan Bakery, based on production of 2,500 loaves of bread. Actual production was 2,100 loaves of bread and each loaf was sold for a retail price of $20. DESCRIPTION COST CATEGORY STANDARDS ACTUALS Direct Materials 12,000 lbs Quantity of Ingredients Purchase Price Direct Materials $1.25 per lb 4.00 lbs. per loaf $1.60 per lb 0.50 hours per loaf $15.00 per hour Direct Labor Hours Direct Labor 1,000 hours Direct Labor Rate Direct Labor $18.00 per hour Using the information provided above, calculate the following variances and identify if they are favorable or unfavorable. FAVORABLE (F) OR DESCRIPTION VARIANCE AMOUNT UNFAVORABLE (U) Direct Material Price Variance Direct Labor Rate Variance Direct Material Sales Volume Variance Direct Labor Flexible Budget VarianceStep by Step Solution
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