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In March, assume that General Mills Inc. purchased milk to use in the production of Yoplait yogurt. During March, General Mills manufactured 4,500 containers of
In March, assume that General Mills Inc. purchased milk to use in the production of Yoplait yogurt. During March, General Mills manufactured 4,500 containers of yogurt for commercial use. The following information is available about standard and actual quantities and costs. There were no beginning or ending materials inventories. Standard for One Unit Actual Usage for March Direct material 23.1 pounds @ $1.1 per pound 110,550 pounds @ $1.0 per pound Direct labor 1.1 hour @ $16 per DLH 7,040 DLHs @ $16.50 per DLH REQUIRED a. Compute the material price variance and the material quantity variance. Note: Enter your answers as positive numbers. Materials price variance Answer Answer Materials quantity variance Answer Answer b. Compute the labor rate, labor efficiency, and total labor variance. Note: Enter your answers as positive numbers. Labor rate variance Answer Answer Labor efficiency variance Answer Answer Total labor variance
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