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**Note that there are 3 parts to the question During June, Danby Company's material purchases amounted to 15,600 pounds at a price of $760 per
**Note that there are 3 parts to the question
During June, Danby Company's material purchases amounted to 15,600 pounds at a price of $760 per pound. Actual costs incurred in the production of 3,000 units were as follows: Direct labor: Direct material: 94,164 ($7.60 per pound) $322,192 ($20.80 per hour) The standards for one unit of Danby Company's product are as follows Direct Labor: Direct Material: Quantity, 5 hours per unit Rate, $20.00 per hour Quantity, 4 pounds per unit Price, $6.90 per pound Required Fill in the amounts in the tables below Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places.) Direct-Material Price and Quantity Variances Projected Material Cost Actual Material Cost Standard Material Cost Actual Quantity Actual Quantity Standard Price Standard Quantit Standard Price Actual Price pounds allowed pounds used per pound pounds used per pound per pound Direct-material price variance Direct-material quantity variance Direct-material variance Required 1 Required 2>Step by Step Solution
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