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need answers for both question a & b thanks in advance QUESTION 1 The following direct materials and direct labor data pertain to the operations
need answers for both question a & b thanks in advance
QUESTION 1 The following direct materials and direct labor data pertain to the operations of Goon Manufacturing Company for the month of August. Quantities Costs Actual hours incurred and used 3,200 hours Actual labor rate RM13 per hour Actual quantity of materials purchased and Actual materials price RM89 per ton used 920 tons Standard hours used 3,250 hours Standard labor rate RM12 per hour Standard quantity of materials used 900 tons Standard materials price RM90 per ton Required i) material price variance 11) material quantity variance iii) total material variance (a) Compute iv) labor price variance v) labor quantity variance vi) total labor variance (b) Provide two possible explanations for each of the unfavorable variances calculated above and suggest where responsibility for the unfavorable result might be placed Step by Step Solution
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