Exercise 11-9

Ridgewood Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows:

Materials (0.90 yards $12.10)$10.89Direct labor (1.20 hours $13.50)$16.20

During May, the company produced 3,600 band hats; 3,910 yards of material were purchased for $38,318, and 3,040 yards of material were used in production. Also during May, 4,600 direct labor hours were worked at a cost of $55,200. Calculate material price and quantity variances and labor rate and efficiency variances. Indicate whether the variances are favorable or unfavorable.(Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Exercise 11-9 Ridgewood Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards $12.10) Direct labor (1.20 hours $13.50) $10.89 $16.20 During May, the company produced 3,600 band hats; 3,910 yards of material were purchased for $38,318, and 3,040 yards of material were used in production. Also during May, 4,600 direct labor hours were worked at a cost of $55,200. Calculate material price and quantity variances and labor rate and efficiency variances. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.) $ Material Price Variance $ Material Quantity Variance $ Labor Rate Variance $ Labor Efficiency Variance