Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dev Corporation makes metal figurines. The following information for June is provided below for manufacturing the figurines Direct materials Direct labor Overhead Units manufactured Standard
Dev Corporation makes metal figurines. The following information for June is provided below for manufacturing the figurines Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $7 per lb. 3 hrs. $15 per hr. 3 hrs. @ $13 per hr. Actual 52,000 lbs. @ $7.20 per lb. 25,400 hrs. @ $15.50 per hr. $341, 300 8,600 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost $ 0 $ 0 s 0 Direct labor rate variance Direct labor efficiency variance Total variable overhead cost variance 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started