Question
Please show every step and the answers. Direct material QUANITITY variance Plato Company began operations on June I, of operations, Plato Company established one unit
Please show every step and the answers. Direct material QUANITITY variance
Plato Company began operations on June I, of operations, Plato Company established one unit of its single product direct materials direct labor variable overhead standard quantity 7 pounds 8 hours 8 hours 2024. For its first month the following standards for standard price $14 per pound $17 per hour $11 per hour Plato Company reported the following information for June : 7, pounds of direct materials were purchased at a total cost I. of $113, 5,4 direct labor hours were worked at a total cost Of $75,6e. S. The variable overhead cost for the month totaled $52,950. 46a units were produced. 4. . At June 30, Plato Company had 2,3 pounds of direct materials on hand . Calculate the direct material price variance for June. If the variance is favorable, place a minus sign in front of your answer (i.e., -5). If the variance is unfavorable, simply enter your answer as a number (i.e., 5e).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started