Hello,

I need help with the following problem.

2014 LOWELL company began the manufacture of a new paging known as Dandy. The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit follow: DM (2lb @ $3 per lb); DL (1/2 hr @ 16 per hour); MOH (80% of direct manuf. labor costs) The following data were obtained from Lowell;s records for the month of May:

Rev 150k (cr)

A/P (control) 36,300 (cr)

dm price variance 4500 (dr)

dm efficiency variance 2900 (dr)

direct manuf labor price variance 1700 (dr)

direct manuf labor efficiency variance 2000 (cr)

Actual production in May was 4,700 units of Dandy and actual sales in May were 3000 units. The amout shown for dm price variance applies to materials purchased during May. There was no begin. inventory of materials on May 1, 2014

Compute each of the following for May (Show computations)

1) Standard direct anuf allowed for actual output produced

2) actual direct manufacturing labor hours worked

3) actual direct manufacturing labor wage rate

4) standard quantity of dm allowed in pounds

5) actual quanitity of dm used in pounds

6) actual quantity of dm purchased in pounds

7) Actual dm price per pound.

Thank you.