Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct Materials and Direct Labor Variances At the beginning of June, Bezco Toy Company budgeted 15,000 toy action figures to be manufactured in June at

image text in transcribed
Direct Materials and Direct Labor Variances At the beginning of June, Bezco Toy Company budgeted 15,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials $12,000 Direct labor 10,500 Total $22,500 The standard materials price is $0.4 per pound. The standard direct labor rate is $14 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $10,800 Actual direct labor 9,400 Total $20,200 There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Bezco Toy Company actually produced 13,100 units during June. Determine the direct materiais quantity and direct labor time variances. Round your per unit computations to two decimal places, if required Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials quantity variance Unfavorable Direct labor time variance Unfavorable

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

Contemporary Debates On Politics And Public Administration In The Postmodern Era

Authors: Ă–mer Ugur, Kadir Caner Dogan

1st Edition

3631796331, 9783631796337

More Books

Students also viewed these Accounting questions

Question

I was partially responsible.

Answered: 1 week ago