Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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?

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

The Future Of Audit Keeping Capital Markets Efficient

Authors: Keith Houghton, Christine Jubb, Michael Kend, Juliana Ng

1st Edition

1921666501, 978-1921666506

More Books

Students also viewed these Accounting questions

Question

Influences on Nonverbal Communication?

Answered: 1 week ago