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Please fll in the blanks for Parts A B and C Eastern Polymers, Inc., processes a base chemical into plastic. Standard costs and actual costs
Please fll in the blanks for Parts A B and C
Eastern Polymers, Inc., processes a base chemical into plastic. Standard costs and actual costs for direct materials direct labor, and factory overhead incurred for the manufacture of 6,000 units of product were as follows: Standard Costs Actual Costs Direct materials Direct labor Factory overhead 7,800 lbs. at $5.5 1,500 hrs. at $18.5 Rates per direct labor hr., based on 100% of normal capacity of 1,560 direct labor hrs.: 7,700 lbs. at $5.4 1,530 hrs. at $18.7 Variable cost, $4.8 $7,130 variable cost Fixed cost, $7.6 $11,856 fixed cost Each unit requires 0.25 hour of direct labor Required a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance asa positive number Price variance Quantity variance Total direct materials cost variance Favorable Favorable Favorable b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Rate variance Time variance Total direct labor cost variance Unfavorable Unfavorable UnfavorableStep by Step Solution
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