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Please answer all parts of this Huron Company produces a commercial cleaning compound known s Zoom. The direct materials and direct labor standards for one
Please answer all parts of this
Huron Company produces a commercial cleaning compound known s Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 4.6 pounds 0.2 hours Standard Price or Rate | $2.50 per pound $12.00 per hour Standard Cost $11.50 $2.40 Direct Materials Direct Labor During the most recent month, the following activity was recorded: A) Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. B) All of the material purchased was used to produce 4,000 units of Zoom. C) 750 hours of direct labor time were recorded at a total labor cost of $10,425. Required: 1) Compute the materials price and quantity variances for the month. 2) Compute the labor rate and efficiency variances for the monthStep by Step Solution
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