Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could i get some help with this questions Direct Materials and Direct Labor Variance Analysis Shasta Foxture Company manufactures faucets in a small manufacturing facility.

could i get some help with this questions
image text in transcribed
image text in transcribed
Direct Materials and Direct Labor Variance Analysis Shasta Foxture Company manufactures faucets in a small manufacturing facility. The facts are made from brass Manufacturing has 30 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hour $10.80 Standard labor time per unit 15 min. Standard number of lbs. of brass 1.3 lbs. Standard price per lb. of brass $12.25 Actual price per it. of brass $12.50 Actual lbs. of brass used during the week 10,043 lbs Number of units produced during the week 7,500 Actual wage per hour $11.12 Actual hours for the week (30 employees * 36 hours) 1,050 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit b. Determine the direct materials price varsance, direct materials quantity vartance, and total direct materials cost vanance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct Materials Price Variance Unfavorable Direct Materials Quantity Variance Unfavorable Total Direct Materials Cost Variance Unfavorable c. Determine the direct labor mate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Entero favorable variance as a negative number using a munus sign and an unfavorable variance as a poctive number Direct Labor Rate Variance Unfavorable Direct Labor Time Variance Favorable Total Direct Labor Cost Variance Favorable

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_2

Step: 3

blur-text-image_3

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

More Books

Students also viewed these Accounting questions

Question

What lean methods did the Nordstrom Innovation Lab use?

Answered: 1 week ago

Question

What is the orientation toward time?

Answered: 1 week ago

Question

4. How is culture a contested site?

Answered: 1 week ago