Question
Part of your companys accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files.
Part of your companys accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Round "per unit" answer values to 2 decimal places.)
Looking for answers to fill the blue boxes (some already done).
Direct Labor Direct Material $ $ 15.00 per hour hours per unit 3.00 hours Standard price or rate per unit of input Standard quantity per unit of output Actual quantity used per unit of output Actual price or rate per unit of input Actual output Direct-material price variance Direct-material quantity variance $ 18.00 per hour 14.00 per lb lbs per unit Ibs per unit 13.00 per lb 8,500 units 61,200 F 16,800 U 44,400 F 8,500 units $ Total direct-material variance Direct-labor rate variance $ $ Direct-labor efficiency variance Total direct-labor variance 25,500U 72,250 F 46,750 F $
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