EX5

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Exercise 5 Indi Co. makes zollies out of a special type of rubber. During the month, Indi made 6400 zollies using 13440 kilos of rubber. The rubber cost $580608. During the month, Indi also incurred a direct labor cost of $414720 having worked 46080 direct labor hours. Indi's standard costs include 2 kilos of rubber at a cost of $48 per kilo. The standard direct labor time is 8 hours per zollie at a standard labor rate of $10 per hour. Unfavorable What is the actual price of material per kilo? What is the standard quantity given the number of zollies produced? What is the amount of material price variance? Is the MPV favorable or unfavorable? What is the amount of material quantity (efficiency) variance? Is the MQV favorable or unfavorable? What is the actual labor rate? What is the standard hours allowed for the number of zippos made? What is the amount of labor rate (price) variance? Is the MPV favorable or unfavorable? What is the amount of labor efficiency (quantity) variance? Is the MQV favorable or unfavorable? Favorable Favorable