Homework #6 i 6 Part 2 of 3 Saved Case 10-49 Direct-Material and Direct-Labor Variances; Job-Order Costing; Journal Entries (Appendix) (LO 10-1, 10-3, 10-6, 10-9) [The following information applies to the questions displayed below.] European Styles, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores' labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data. 1.14 points Lot Number Boxes in Lot Material Used (yards) Hours Worked 22 1,000 24,140 3,970 23 24 1,700 1,200 40,330 28,875 6,840 3,860 eBook References The following additional information is available: 1. The firm purchased 84,000 yards of material during November at a cost of $110,200. 2. Direct labor during November amounted to $161,370. According to payroll records, production employees were paid $11.00 per hour. 3. There was no work in process on November 1. During November, lots 22 and 23 were completed. All material was issued for lot 24, which was 80 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Direct material Direct labor Production overhead Standard cost per box 24 yards at 4 hours at 4 hours at $ 1.30 per yard $10.50 per hr. $14.00 per hr. $ 31.20 42.00 56.00 $129.20 Case 10-49 Part 2 2. For each lot produced during November, complete the following schedules: a. Direct-material purchase price variance. b. Direct-material quantity variance. c. Direct-labor efficiency variance. d. Direct-labor rate variance.