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Paltrow Inc. makes a strange product called goop, with the following standard costs Budgeted quantity Budgeted price Direct materials 8.6 kilos $6.00 per kilo Direct
Paltrow Inc. makes a strange product called goop, with the following standard costs Budgeted quantity Budgeted price Direct materials 8.6 kilos $6.00 per kilo Direct labor 0.4 hours $11.00 per hour Apple Valley sells their pies for $20 per pie. Paltrow produced and sold 8400 units of goop in August. Paltrow purchased 76,900 kilos of direct material for a total cost of $469,090, but only used 71,750 kilos. Paltrow useq 3,320 direct labor hours for a total direct labor cost of $35,524. Compute the following variances for November. Input your answers as positive numbers to the nearest whole dollar. No dollar signs, commas, or cents. 1. Materials price variance. Materials quantity variance Paltrow produced and sold 8400 units of goop in August. Paltrow purchased 76,900 kilos of direct material for a total cost of $469,090, but only used 71,750 kilos. Paltrow used 3,320 direct labor hours for a total direct labor cost of $35,524. Compute the following variances for November. Input your answers as positive numbers to the nearest whole dollar. No dollar signs, commas, or cents. 1. Materials price variance. 2. Materials quantity variance. 3. Labor rate variance. 4. Labor efficiency variance
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