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Help with this problem would be appreciated! Thanks in advance!! Jones Company has the following standards for its single product: standard quantity standard pricedirect materials
Help with this problem would be appreciated! Thanks in advance!!
Jones Company has the following standards for its single product: standard quantity standard pricedirect materials 11 pounds per unit $4.25 per pounddirect labor 8 hours per unit $14.00 per hourvariable overhead 8 hours per unit ?????? per hour Jones Company reported the following information for the month of October: 9,140 units were produced. The direct material quantity variance was $36,295 favorable. The variable overhead spending variance was $1,520 favorable. The total direct labor variance was $7,140 unfavorable. Direct materials were purchased at a price of $4.60 per pound. The actual rate paid to direct laborers was $13.93 per hour. The actual variable overhead cost amounted to $627,480. At October 1, the direct materials inventory consisted of 2,000 poundswhile the direct materials inventory at October 31 totaled 8,000 pounds. "Nam-FUJNH Calculate the direct labor efficiency variance for October. If the varianceis favorable, place a minus sign in front of your answer (i.e., -5000). Ifthe variance is unfavorable, enter your answer as a number (i.e., 5000).Step by Step Solution
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