Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Nixon's Diner bakes pies in large batches. One batch of pies has the following standard costs and amounts: Standard quantity of sugar (pounds) 115 Standard
Nixon's Diner bakes pies in large batches. One batch of pies has the following standard costs and amounts: Standard quantity of sugar (pounds) 115 Standard cost per pound of sugar $2.10 Standard direct labor hours per batch of pies 1.5 Standard direct labor cost per hour $19.00 Nixon's Diner baked 425 batches of pies in the most recent month. Actual costs and usage levels were as follows: Actual pounds of sugar purchased and used per batch of pies 122 Actual cost per pound of sugar $2.20 Actual direct labor hours per batch of pies 2 Actual direct labor cost per hour $17.75 Required: a. Calculate the materials price variance. b. Calculate the materials quantity variance. c. Calculate the labor rate variance. d. Calculate the labor efficiency variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started