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Exercise 9.14 Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the company adopted the following standards for one
Exercise 9.14 Direct Materials and Direct Labor Variances Zoller Company produces a dark chocolate candy bar. Recently, the company adopted the following standards for one bar of the candy: Direct materials (6.3 oz. $0.20) $1.26 Direct labor (0.08 hr. @$18000 1.44 Standard prime cost $2.70 During the first week of operation, the company experienced the following actual results a. Bars produced: 143,000. b. ounces of direct materials purchased: 901,200 ounces at $0.21 per ounce. c. There are no beginning or ending inventories of direct materials. d. Direct labor: 11,300 hours at $17.30 Required Instructions for part 1 and 2: If a variance is zero, enter "0" and select "Not applicable" from the drop down box 1. Compute price and usage variances for direct materials. s Select your answer Materials Price Variance Select your answer Materials Usage Variance 2. Compute the rate variance and the efficiency variance for direct labor. U- Select your answer Labor Rate Variance Labor Efficiency Variance Select your answer tU
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