Daley, Inc. is a privately held future manufacturer For August 2014. Daley had the following standards for one of ts products a wicker chale Standards per Chair Directa 3 square yards of input at $ 520 per square yard Direct manufacturing labor 0.5 hour of input at $ 10.10 per hou The following data were compiled regarding actual performance actual output units (chairs) produced, 200 square yards of input purchased and used 6.300, price per square yard. 95.41, crect manufacturing labor cos. 59.478 Read the requirement Requirements Requirement 1. Show computations of price and efficiency variances for direct materie Let's begin by determining the formula used to calculate the actual costs of direct mate 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred Direct materials 2. Suppose 8.800 square yards of materials were purchased (55.00 per square yard, even though only 6.300 squareyards were used Suppose further that Next we will calculate the actual input at the budgeted price variances are identified at their most timely control point accordingly direct materials price variances are isolated and traced at the time of purchase to the Actual input Budget purchasing department rather than to the production department Compute the Direct mare price and efficiency variances under this approach Choose from any list or enter any number in the input fields and then continue to Print Done Dabey, Inc. is a privately held furniture manufacturer. For August 2014. Daley had the following standards for one of its products, a wicker chair. Standards per Chair Direct materials 3 square yards of input at $ 520 per square yard Direct manufacturing labor 0.5 hour of Input at $ 10.10 per hour The following data were compiled regarding actual performance actual output unts (chairs) produced. 2.200; square yards of input purchased and used, 6,300; price per square yard 55.40, direct m actual hours of input 920 labor price per hour 510.30 Read the requirements Requirement 1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred. Let's begin by determining the formula used to calculate the actual costs of direct materials, then enter the amounts in the formula and calculate the cost. Actual cost Direct materials Next we will calculate the actual input at the budgeted price. Actual Input Budgeted price Cost Direct materials Direct manufacturing labor X X hann ennen min hinnan han mantin, that we o Dalay. Inc. is a privately haid kuniture manufacturer For August 2014. Daly had the following standards for one of its products a wicker char Standards per Chair Direct materials 3 square yards of input at $ 520 per square yard Direct manufacturing labor 05 hour of input at $ 10.10 per hour The following data were compiled regarding actual performance actual output unts (chaita) produced. 2.200, square yards of input purchased and uned, 6.300, price per square yard. 55.40, direct mandacturing labor costs. 59.476, actual hours of input, 920 labor price per hour $10.30 Read the Determine the formula and calculate the costs for the fusible budget. Flexible budget Cost Direct materials Direct manufacturing labor Now compute the price and efficiency variances for direct materials and direct manufacturing labor. Label each variance as tevorable (F) or unfavorable (U). Price Efficiency variances Direct materials Choose from any list or enter any number in the input fields and then continue to the next question variances Daley, Inc. apely held furniture manufacturer. For August 2014. Daley had the foowing standards for one of its products a wicker char Standards per Chall Direct materials squareyards out at $ 520 per squareyard Direct manufacturing labor 5 hour of input $ 10.10 per hour The following data were compled regarding to performance tout unts chair produced 2200qreyfint purchased and used 6.300 price per square yard. 55.40, direct manufacturing whor costs. 59.476 actual hours of input. 120. Labor price per hour 510 30 Read the remai Now compute pics and can ancescenes and rect manufacturing aber be an ancestraie For Urtavoro UK Price Efficiency variances Direct materials Direct manufacturing labor Now give a plausible exploration of why each variance occured Begin with the direct material variances The materials price race There was an unexpected in materials price per squareyard due to competition The materials officiency variance The production manager may have employed l workers or the budorted materials standards were set to Cho m ante number in the end en Dalay, Inc. is a privately hold furniture manufacturer. For August 2014. Dalay had the following standards for one of les products, a vicker chal Standards per Chale Direct materials 3 square yards of input at $ 520 per squareyard Direct manufacturing labor 0.5 hour of input at $ 10.10 per hour The following data were compled regarding actual performance, actual output units (Chairs) produced. 2.200 square yards of input purchased and used. 6.300. price per square yard 95.40, direct manufacturing labor costs. 59.476 actual hours of input 920. labor price per hour $10.30 Read the items The materials price variance There was an unexpected materials price per squareyard due to competition The materials efficiency variance The production manager may have employed workers or the budgeted materials standards were set 100 The labor price in laborates due to a The labor ciency variance eficient workers being employed or the use of Requirement 2. Suppose 8.800 squareyards of materials were purchased at $5.40 per square yard), even though only 6.300 square yards were used. Suppose further that variances are identified at their most timely control point, accordingly direct material price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department Compute the price and efficiency variances under this approach Dales, Inc. be a privately held tuture manufactures For August 2014. Dolay had the following standards for one of to product a wicker chat Standards per Chale Direct materials 3 square yards of not at 20 per square yard Direct manufacturing 0 hour of tot 10.10 per hour The following data were compiled regarding actual performance actuel oviputunts (chain produced, 2200 square yards of put purchased and used. 6.300, ce per square yard, 5540, diect mancing bercuts, 59.478 actual hours of $20. sbor price per hour 510 The labor alene variance officient workers being employed or the use of Requirement 2. Spore 8.000 ure yards of materials were purchased (85 40 per square yard), even though only 6.300 square yards were used. Suspore futher that variances are identified at the most imely como point accordinglydred materia price variance Bolted and traced at the time of purchase to the purchasing department rather than to the production department compute the price and efficiency variances under the approach Label each variance as favorable Funerale ) variance variance Direct materials Choose from any ist or enter any number in the input fields and then continue to the next