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Please explain how answers are favorable or unfavorable Alternate Demonstration Problem #1 XYZ Company manufactures tables. A standard cost card for the manufacture of one
Please explain how answers are favorable or unfavorable
Alternate Demonstration Problem #1 XYZ Company manufactures tables. A standard cost card for the manufacture of one table shows the following: Standard Cost per Table: Direct material: 4 sq. ft. $3/sq. ft. $12 Direct labor: 2 hours@ $8/hr Total prime costs 16 $28 In November, the company produced 1,000 tables. Actual production took 2,300 direct labor hours and 3,900 square feet of lumber. The lumber cost $12,090 while the workers' average pay was $7.80 per hour Required: Calculate the price and quantity variances for direct material and direct labor. Alternate Demonstration Problem #1 XYZ Company manufactures tables. A standard cost card for the manufacture of one table shows the following: Standard Cost per Table: Direct material: 4 sq. ft. $3/sq. ft. $12 Direct labor: 2 hours@ $8/hr Total prime costs 16 $28 In November, the company produced 1,000 tables. Actual production took 2,300 direct labor hours and 3,900 square feet of lumber. The lumber cost $12,090 while the workers' average pay was $7.80 per hour Required: Calculate the price and quantity variances for direct material and direct laborStep by Step Solution
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