Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work in excel :) Bullfrog. Inc. has the following standard material and labor quantities and costs for one unit of Product A: Material

image text in transcribedimage text in transcribed

Please show work in excel :)

Bullfrog. Inc. has the following standard material and labor quantities and costs for one unit of Product A: Material 2 pounds a S4.50 per pound Labor 3 hours $15 per hour During August, the purchasing agent was able to purchase the raw material needed for Product and bought and used 125.000 pounds of materials at per pound. In August, the company produced 60,000 units with the following actual material and usages Material 125,000 pounds Labor 190.000 direct labor hours a 16.50 per hour INSTRUCTIONS: Calculate the following variances: Material purchase price variance 2) Material quantity variance 3) Direct labor rate variance 4) Direct labor efficiency variance 5) Look at your answers for the 4 variances above. Describe what these variances tell us about what may have happened

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

Students also viewed these Accounting questions

Question

Simplify each of the following and collect the like terms

Answered: 1 week ago