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It is complete question. If you do not know how to do it, just ignore it. Data is 100% complete. I do have an answer.
It is complete question. If you do not know how to do it, just ignore it. Data is 100% complete. I do have an answer. I just need an explanation to find the best way to solve it. Need a detailed solution. This is a complete - challenge question. Please do not request more information. Any help highly appreciated.
Use the information for Gulu for the next 3 questions. Gulu Company produces a product called Mino. The company uses a standard cost system and has established the following standards for one unit of Mino: Standard quantity or hours Standard price or rate Standard variable cost per unit $ 5 per pound Direct materials Direct labor Variable manufacturing overhead Total standard variable cost per unit of Mino: S4 per direct labor hour S 46 During August, 500 units of Mino were produced and sold. Selected information relating to the month's production Variable is given below Total standard cost for the month's production Actual costs incurred Maternials price variance Materials quantity variance Materials used Direct labor S 12,000 S 2.200 Unfavorable 8,5001,700 S 1,830 The following additional information is available for August's production of Mino: Actual direct labor-hours Difference between actual and standard variable cost per unit of Mino 450 Ihours $ 0,18 Unfavorable 18 Assuming all materials purchased have been used in production, what was materials price vaiance for August? S 3,000 Favorable S 3,000 Unfavorable A. 1,400 Favorable S 1.400 Unfavorable 800 Favorable 19 What was direct labor rate varianoe for August? 390 Unfavorable 390 Favorable 240 Unfavorable 240 Favorable 60 Unfavorable 20 What was variable overhead efficiency variance for August? 100 Favorable 100 Unfavorable 0 Favorable 50 Unfavorable Zero vanianceStep by Step Solution
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