Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

eto,mheduca Chemlink Inc uses a standard cost system to account for the costs of its production of Chemical X. Standards are 3.2 gallons of materials

image text in transcribed
image text in transcribed
eto,mheduca Chemlink Inc uses a standard cost system to account for the costs of its production of Chemical X. Standards are 3.2 gallons of materials at $123 per gallon and 28 hours of labor at a standard wage rate of $30. During September Chemlink produced 3.350 gallons of Chemical Chemlink purchased and used totaled 3,750 gallons at a total cost of $465,180. Actual direct labor cost totaled $320,730 for 26,330 hours worked. a. Calculate the direct materials price variance (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance)) Price Vartano b. Calculate the direct materials quantity variance. (Indicate the effect of variance by selecting "Favorable" "Unfavorable" or "None" for no effect (la, zero variance).) Quantity Varian e Mote Start video Share Rece mere to search entomheducation.com .concentrohr JAIN c. Calculate the direct labor rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (.e., zero variance).) Rate Variance d. Calculate the direct labor efficiency variance. (Indicate the effect of variance by selecting "Favorable" "Unfavorable", or "None" for no effect i.e., zero variance).) Etancy Varlance 9000 e Mate 2. Start video Share O Reco here to search O *

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Management Accounting Chapters 1 To 17

Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Dave Burgstahler, Jeff Schatzberg

15th Edition

0136102654, 978-0136102656

More Books

Students also viewed these Accounting questions