Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct materials ( 15 pounds @ $4 per pound) $60 Direct labor ( 3 hours a $15 per hour) 45 During June the company incurred

image text in transcribed Direct materials ( 15 pounds @ $4 per pound) $60 Direct labor ( 3 hours a $15 per hour) 45 During June the company incurred the following actual costs to produce 8,400 units. Direct materials (128,200 pounds $3.75 per pound) Direct labor (29,800 hours $15.15 per hour) $480,750 451,470 AR = Actual Rate SR= Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance

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 For Financial Instruments

Authors: Cormac Butler

1st Edition

0470699809, 978-0470699805

More Books

Students also viewed these Accounting questions

Question

1. Check readers and library books. Is there ethnic diversity?

Answered: 1 week ago