Answered step by step
Verified Expert Solution
Question
1 Approved Answer
estion list Question 5 Question 6 Data K Type here to search Longman Company manufactures shirts. During June, Longman Company made 1,400 shirts and gathered
estion list Question 5 Question 6 Data K Type here to search Longman Company manufactures shirts. During June, Longman Company made 1,400 shirts and gathered the following additional data: View the data. Read the requirements. Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased and used Direct labor cost standard Direct labor efficiency standard Actual amount of direct labor hours Actual cost of direct labor 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials. (Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter.) i 8: $7.00 per yard of fabric 2 30 yards per shirt 3,080 yards $22,792 $18.00 per DLHr 5.00 DLHr per shirt 7,080 DLHr $126,024 00 - X 6. X O = Direct Materials Cost Variance Requirements Calculate the following variances 7. Direct materials cost variance 8. Direct materials efficiency variance 9. Total direct materials variance Print 10. Direct labor cost variance 11. Direct labor efficiency variance 12. Total direct labor variance Done 58F Mostly clear A - X 4) answer 11:39 PM
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