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Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials ( 1 5 pounds @ $ 4
Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials pounds @ $ per pound $ Direct labor hours @ $ per hour During May the company incurred the following actual costs to produce units. Direct materials pounds @ $ per pound $ Direct labor hours @ $ per hour AR Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances. Compute the direct labor rate variance and the direct labor efficiency variance.
Lucia Company has set the following standard cost per unit for direct materials and direct labor.
Direct materials pounds @ $ per pound $
Direct labor hours @ $ per hour
During May the company incurred the following actual costs to produce units.
Direct materials pounds @ $ per pound $
Direct labor hours @ $ per hour
AR Actual Rate
SR Standard Rate
AQ Actual Quantity
SQ Standard Quantity
AP Actual Price
SP Standard Price
Compute the direct materials price and quantity variances.
Compute the direct labor rate variance and the direct labor efficiency variance.
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