Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please show me the steps to get the correct answer (not the one in red)? Thanks Robb Industries, Inc. (RII), developed standard costs

image text in transcribedimage text in transcribed

Can you please show me the steps to get the correct answer (not the one in red)? Thanks

Robb Industries, Inc. (RII), developed standard costs for direct material and direct labor. In 2004. Ril estimated the following standard costs for one of their major products, the 10-gallon plastic container. SQ SP Direct material 0.10 lbs $30.5/ID Direct labor .05 hours $15.75/hour During June, Ril produced and sold 5.000 containers using 480 pounds of direct materials at an average cost per pound of $32 and 320 direct manufacturing labor- hours at an average wage of $15.90 per hour. What is the direct labor efficiency variance? (enter a negative number for favorable variance) You Answered 3,600 Correct Answer 1,103 margin of error +/- 1 Question 7 0/0.15 pts Budgeted volume - 8.000 Actual volume - 8500 Budgeted Fixed cost - 53,550 What is the production volume variance ? (If the variance is favorable, you answer should be negative) You Answered 350 Correct Answer -3,347 margin of error +/- 1

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

College Accounting Ch 1-14

Authors: John Wild, Vernon Richardson, Ken Shaw

1st Edition

0073346896, 9780073346892

More Books

Students also viewed these Accounting questions