{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T05:16:35-04:00", "answer_date": "2024-05-29 05:16:35", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1877975", "url": "\/study-help\/questions\/help-huron-company-produces-a-commercial-cleaning-compound-known-as-1877975", "question_creation_date_js": "2024-05-29T05:16:35-04:00", "question_creation_date": "May 29, 2024 05:16 AM", "meta_title": "[Solved] Help Huron Company produces a commercial | SolutionInn", "meta_description": "Answer of - Help Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standa | SolutionInn", "meta_keywords": "help,huron,company,produces,commercial,cleaning,compound,zoom,direct,materials,labor,standards", "question_title_h1": " Help Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are", "question_title": " Help Huron Company produces a commercial cleaning compound known as Zoom.", "question_title_for_js_snippet": "Help Huron Company produces a commercial cleaning compound known as Zoom The direct materials and direct labor standards for one unit of Zoom are given below Direct materials 15 Direct labor Standard Quantity or Hours 7 50 pounds 0 80 hours Standard Price or Rate $2 40 per pound $ 7 00 per hour Standard Cost $ 18 00 $ 5 60 During the most recent month, the following activity was recorded a Thirteen thousand two hundred and fifty pounds of material were purchased at a cost of $2 20 per pound b All of the material purchased was used to produce 1,500 units of Zoom c 1,000 hours of direct labor time were recorded at a total labor cost of $9,000 Required 1 Compute the materials price and quantity variances for the month 2 Compute the labor rate and efficiency variances for the month (For all requirements, Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (ie , zero variance) Input all amounts as positive values Round your intermediate calculations to the nearest whole dollar ) 1 Materials price variance 1 Materials quantity variance 2 Labor rate variance 2 Labor efficiency variance", "question_description": "\"image", "transcribed_text": "Help Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Direct materials 15 Direct labor Standard Quantity or Hours 7.50 pounds 0.80 hours Standard Price or Rate $2.40 per pound $ 7.00 per hour Standard Cost $ 18.00 $ 5.60 During the most recent month, the following activity was recorded: a. Thirteen thousand two hundred and fifty pounds of material were purchased at a cost of $2.20 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 1,000 hours of direct labor time were recorded at a total labor cost of $9,000. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting \"F\" for favorable, \"U\" for unfavorable, and \"None\" for no effect (ie., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) 1. Materials price variance 1. Materials quantity variance 2. Labor rate variance 2. Labor efficiency variance", "related_book": { "title": "Intermediate Accounting", "isbn": "324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140", "edition": "16th Edition", "authors": "James D. Stice, Earl K. Stice, Fred Skousen", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/105.jpg", "uri": "\/textbooks\/intermediate-accounting-16th-edition-105", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CHTQP25T", "uri": "\/textbooks\/how-to-make-a-few-billion-dollars-1st-edition-979-8886451740-250137", "name": "How To Make A Few Billion Dollars", "edition": "1st Edition" }, "question_posted": "2024-05-29 05:16:35", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/identify-and-explain-five-challenges-faced-by-monetary-policy-makers-658035", "description": "Identify and explain five challenges faced by monetary policy makers.", "stars": 0 }, { "url": "\/the-sec-form-10-k-of-nike-is-reproduced-in-80963", "description": "The SEC Form 10-K of NIKE is reproduced in Appendix C. 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