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in hand written plss Q7. The standard costs and variances for May 2015 are as follows: Actual Variances Cost Unfavorable Favorable Direct Materials: 800,000 1

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in hand written plss

Q7. The standard costs and variances for May 2015 are as follows: Actual Variances Cost Unfavorable Favorable Direct Materials: 800,000 1 Price Variance 50,000 2 Quantity Variance 38,000 Direct Labor: 1.200,000 1 Rate Variance 22,000 2 Efficiency Variance 40.000 Factory Overhead: 2,200,000 1 Controllable Variance 65,000 2. Volume Variance 35,000 REQUIRED: a) Standard Cost for: 1 Direct Material 2 Direct Labor 3. Factory Overhead b) Entries in General Journal to record the above information

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