Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me with both required parts of the question. part one: part two: xercise 8-12 (Algo) Direct materials and direct labor variances LO P3

please help me with both required parts of the question.
part one:
image text in transcribed
part two:
image text in transcribed
xercise 8-12 (Algo) Direct materials and direct labor variances LO P3 Camila Company has set the following standard cost per unit for direct materias and direct labor. Difect materiais (14 pounds \& \$4 per pound) Direct habor (2) hours 8 \$15 per hour) $56 30 During June the company incurred the following actual costs to produce 8.100 units. Direct materials (116,300 pounds \& $3.75 per pound) Direct labor (20,508 hours e $15,15 per hour) $36,125 310,575 AR= Actual Rate SR = Standard Rate AQ= Actual Quontity SQ= Standard Quantity AP= Actuol Price SP= Standord Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances: Note: Indicate the effect of each variance by selecting favorable, unf avorable, or no variance. During June the company incured the following actual costs to produce 8.100 units. Direct materials (116,300 pounds 853.75 per pound) 436,125 310,575 birect labor (20,590 hours e 515 . 15 per hour) AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP= Actuol Price SP = Standord Price (1) Compute the direct materiois price and quantity variances. (2) Compute the direct labor rote variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor effidiency variance. Note: Indicate the effect of each variance by selectino favorable, unfavorable, or no varlance. Round Tate per hour answers to 2 decimal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Excise Tax Air Transportation IRS Audit Techniques Guide ATG

Authors: Internal Revenue Service

1st Edition

1304112772, 978-1304112774

More Books

Students also viewed these Accounting questions

Question

Describe the job youd like to be doing five years from now.

Answered: 1 week ago

Question

So what disadvantages have you witnessed? (specific)

Answered: 1 week ago