Question
Delosa Co. recently experienced a fire, forcing the company to use incomplete information to analyze operations.Delosa completed 12,000 units.Consider the following data and assume that
Delosa Co. recently experienced a fire, forcing the company to use incomplete information to analyze operations.Delosa completed 12,000 units.Consider the following data and assume that all materials purchased during the period were used in production:
Direct materials:
Standard price per pound: $9
Actual price per pound: $8
Price variance: $20,000F
Total of direct-material variances: $2,000F
Direct labor:
Actual hours worked: 40,000
Actual rate per hour: $15
Efficiency variance: $28,000F
Total of direct-labor variances: $12,000U
Determine the following: (1) actual materials used, (2) materials quantity variance, (3) labor rate variance, (4) standard labor rate per hour, and (5) standard labor time per finished unit.
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