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I keep doing these incorrect and getting the numbers wrong, please helo me solve this problem :) Dawson Toys, Limted, produces a toy called the
I keep doing these incorrect and getting the numbers wrong, please helo me solve this problem :)
Dawson Toys, Limted, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy. Direct materials: 6 microns per toy at $150 per micron Direct labor 13 hours per toy at $21 per hour During July, the company produced 3,000 Maze toys. The toy's production data for the month are as follows Direct materials: 25.000 microns were purchased at a cost of $148 per micron 5,000 of these microns were still in inventory of the end of the month Direct labor. 4000 direct labor-hours were worked at a cost of $88,000 Required: 1. Compute the following variances for July: (Indicate the e and "None" for no effect (i.e., zero variance). Input all am a. The materials price and quantity variances. b. The labor rate and efficiency variances. 1a. Material price variance F 0 1a. Material quantity variance 16. Labor rate variance 1b. Labor efficiency variance TU Step by Step Solution
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