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Ch 08 Ex 8-15Assignment The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used 17,000 pounds at $4.55
Ch 08 Ex 8-15Assignment
The following information relates to production activities of Mercer Manufacturing for the year.
Actual direct materials used | 17,000 pounds at $4.55 per pound |
---|---|
Actual direct labor used | 17,635 hours at $29 per hour |
Actual units produced | 32,000 |
Standard quantity and price per unit for direct materials | 0.50 pound at $4.50 per pound |
Standard quantity and rate per unit for direct labor | 0.50 hour at $30 per hour |
AR = Actual Rate
SR = Standard Rate
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
(1) Compute the direct materials price and quantity variances.
(2) Compute the direct labor rate and efficiency variances.
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