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Please answer a-f and clearly label each letter with the answer. Thank you. Problem 1 Fortes Inc. has provided the following data concerning one of
Please answer a-f and clearly label each letter with the answer. Thank you. Problem 1 Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor- hours Standard Quantity or Hours per Unit of Output 8.0 ounces 0.60 hours 0.60 hours Standard Price or Rate $6.10 per ounce $19.80 per hour $4.40 per hour Inputs Direct materials Variable manufacturing overhead The company has reported the following actual results for the product for April: Actual output 5,600 units Raw materials purchased Actual cost of raw materials purchased... $279,56 Raw materials used in production .48,200 ounces $27956 44,810 ounces 3,150 hours $64,890 $12,915 Required: (a) Compute the materials price variance for April. (b) Compute the materials quantity variance for April (c) Compute the labor rate variance for April. (d) Compute the labor efficiency variance for April
Please answer a-f and clearly label each letter with the answer. Thank you.
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