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Cibolo Company has the following information available for March when 4,200 units were produced (round answers to teh nearest dollar). Standards: Material 4.0 pounds per
Cibolo Company has the following information available for March when 4,200 units were produced (round answers to teh nearest dollar).
Standards: | |
Material | 4.0 pounds per unit @ $5.25 per pound |
Labor | 6.0 hours per unit @ $10.00 per hour |
Actual: | |
Material purchased | 17,500 pounds @ $5.10 |
Material used | 16,700 pounds |
25,500 direct labor hours @ $9.85 per hour |
a. Refer to Cibolo Company. What is the labor rate variance?
b. Refer to Cibolo Company. What is the labor efficiency variance?
c. Refer to Cibolo Company. What is the material price variance (based on quantity purchased)?
d. Refer to Cibolo Company. What is the material quantity variance?
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