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During May, Joliet Fabrics Corporation manufactured 5 0 0 units of a special multilayer fabric with the trade name Stylex. The following information from the
During May, Joliet Fabrics Corporation manufactured units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.
Direct material purchased: yards at $ per yard $
Direct material used: yards at $ per yard
Direct labor: hours at $ per hour
The standard prime costs for one unit of Stylex are as follows:
Direct material: yards at $ per yard $
Direct labor: hours at $ per hour
Total standard prime cost per unit of output $
Required:
Compute the following variances for the month of May, indicating whether each variance is favorable or unfavorable.
Directmaterial price variance.
Directmaterial quantity variance.
Directmaterial purchase price variance.
Directlabor rate variance.
Directlabor efficiency variance.
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