Exercise 10-30 Reconstructing Standard-Cost Information from Partial Data (LO 10-1, 10-3)

Part of your companys accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Round "per unit" answer values to 2 decimal places.)

Direct Labor Direct Material per hour $ 8.00 hours per unit per lb lbs per unit Ibs per unit 1.90 hours $ 12.00 per hour $ 7.00 per lb Standard price or rate per unit of input Standard quantity per unit of output Actual quantity used per unit of output Actual price or rate per unit of input Actual output Direct-material price variance Direct-material quantity variance Total direct-material variance 5,500 units $ 5,500 units 35,000 F 10,450 X U 27,000 F $ $ Direct-labor rate variance $ F Direct-labor efficiency variance Total direct-labor variance 18,150 7,700 $ F