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During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter variance).). Round "Actual Price" and "Standard Price" to 2 decimal places.) Actual Labor Cost * Actual Rate Direct-Labor Rate and Efficiency Variances Projected Labor Cost Actual Hours * Standard Rate Actual Hours s Standard Labor Cost Standard * Standard Rate Hours hours used per hour hours used per hour hours allowed per hour $ Direct-labor rate variance Direct lab Direct-labor efficiency variance Direct-labor variance
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