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EA12. LO 8.5 Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in

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EA12. LO 8.5 Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours $1.00 $1.20 100 110 $ 15 $16 200 Standard hours for units produced 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances. EA13. LO 8.5 Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours $1.00 $0.90 100 110 $ 15 $16 200 Standard hours for units produced 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances

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