Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Echo Tune Instruments manufactures trumpets, trombones, tubas, and other brass instruments. The following standards were developed for a line of trumpets: (Click the icon to
Echo Tune Instruments manufactures trumpets, trombones, tubas, and other brass instruments. The following standards were developed for a line of trumpets: (Click the icon to view the standards.) During April, Echo Tune scheduled 610 trumpets for production. However, the company produced only 565. Echo Tune purchased and used 2,735 pounds of direct materials at a unit price of $13.80 per pound. It used 6,025 hours of direct labor at an actual rate of $29.00 per hour. Read the requirements. Total standard cost per trumpet Requirement 2. Compute the price variances and quantity variances for direct materials and direct labor. Begin by completing the variance analysis below for direct materials. Be sure to label each variance as favorable or unfavorable. (Round your answers to the nearest whole dollar) Flexible Budget Actual Cost Flexible Budget Based on Standard Inputs Allowed for Actual Data Table ncurred Based on Actual Outputs Achieved Actual Inputs x Inputs x Standard Standard Prices Actual Prices Standard Price pe Direct Standard inputs Expected for Price variance Quantity variance Each Unit of Output Achieved Unit of input materials 7,125 U 3,282 F Direct materials 4 pounds S15 per pound $24 per hour Flexible budget variance Direct labor 10 hours Print Done Choose from any list or enter any number in the input fields and then click Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started