Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
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

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

Accounting And Financial Management For Residential Construction

Authors: Emma Shinn

5th Edition

0867186356, 978-0867186352

More Books

Students also viewed these Accounting questions