Question
Last year, Joplin company budgeted for production and sale of 1710 gizmo s. Actual production and sales was 1900 gizmo s for $ 288 each.
Last year, Joplin company budgeted for production and sale of 1710 gizmos. Actual production and sales was 1900 gizmos for $288 each. Each item was budgeted to use 4 direct labor hour(s) and 9 piece(s) of material. Joplin expected to pay $4.00 per piece and $9.00 per hour. Joplin does not keep any raw materials inventory. Actual production required the following: 15390 pieces at $4.40 per piece 6840 hours at $9.90 per hour ******************************* Compute and label each of the following variances. Just do the labels on paper. Materials price variance = Materials usage variance = Labor rate variance = Labor efficiency variance =
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