Kopecky Inc , which produces a single product, has prepared the following standard cost sheet for one unit of the product Direct materials (6 kg at $3 45 per kilogram) $20 70 Direct labour (2 20 hours at $11 00 per hour) $24 20 During the month of April, the company manufactures 190 units and incurs the following actual costs Direct materials purchased and used (1,340 kg) $4,824 Direct labour (390 hours) $4,095 Calculate the total, price, and quantity variances for materials and labour Materials Labour Price variance $enter a dollar amount select a type of the variance FavourableNeither favourable nor unfavourableUnfavourable $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable Quantity variance $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable Total variance $enter a dollar amount select a type of the variance Neither favourable nor unfavourableUnfavourableFavourable $enter a dollar amount select a type of the variance Neither favourable nor unfavourableFavourableUnfavourable

Question

Kopecky Inc , which produces a single product, has prepared the following standard cost sheet for one unit of the product  Direct materials (6 kg at $3 45 per kilogram) $20 70 Direct labour (2 20 hours at $11 00 per hour) $24 20 During the month of April, the company manufactures 190 units and incurs the following actual costs  Direct materials purchased and used (1,340 kg) $4,824 Direct labour (390 hours) $4,095 Calculate the total, price, and quantity variances for materials and labour  Materials Labour Price variance $enter a dollar amount select a type of the variance FavourableNeither favourable nor unfavourableUnfavourable $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable Quantity variance $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable $enter a dollar amount select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable Total variance $enter a dollar amount select a type of the variance Neither favourable nor unfavourableUnfavourableFavourable $enter a dollar amount select a type of the variance Neither favourable nor unfavourableFavourableUnfavourable

Accepted Answer

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Direct materials (6 kg at $3.45 per kilogram)		$20.70
Direct labour (2.20 hours at $11.00 per hour)		$24.20

Question

Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg at

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Direct materials purchased and used (1,340 kg)		$4,824
Direct labour (390 hours)		$4,095

	Materials		Labour
Price variance	$enter a dollar amount	select a type of the variance FavourableNeither favourable nor unfavourableUnfavourable	$enter a dollar amount	select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable
Quantity variance	$enter a dollar amount	select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable	$enter a dollar amount	select a type of the variance UnfavourableNeither favourable nor unfavourableFavourable
Total variance	$enter a dollar amount	select a type of the variance Neither favourable nor unfavourableUnfavourableFavourable	$enter a dollar amount	select a type of the variance Neither favourable nor unfavourableFavourableUnfavourable