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Nextel Inc makes and sells organic icecream for a major company in the Caribbean. It uses standard costing. DM . 7 5 lbs@$ 1 2

Nextel Inc makes and sells organic icecream for a major company in the Caribbean. It uses standard costing. DM .75lbs@$12.00perlb=$9.00 DL1.48hrs @$15.00perhr $22.20 Var. Man. OH 1.3hrs@$5.00perhr =$6.50 Total $37.70 During the month of November the company repoeted the following results: Actual output-22000 buckets Purchase of raw materials-24000lbs Raw materials used in production -21000lbs Actual direct labour hrs-30000 Actual var, Man OH cost -$109,200 Actual cost of raw materials perlb- $16.40 Actual direct labour cost perhr$15.80 Actual variable manufacturing -hrs 26,000hrs. Compute material price variance. material quantity variance, labour rate variance, labour effiency variance, variablke overhead rate variance, variable overhead effiency variance, Define the terms separable cost and joint cost.

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