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Please solve all parts. Please show solutions/formulas for all parts. LO3 P10-31 Computation of Variable Cost Variances The following information pertains to the standard costs
Please solve all parts. Please show solutions/formulas for all parts.
LO3 P10-31 Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: chapter 10 Standard Costs and Performance Reports 373 Standard cost per unit Direct materials 4 units of material A x $3.00 per unit 1 unit of material B x $4.00 per unit Direct labor. 3 hours x $9.00 per hour Activity for September Materials purchased Material A 4,500 units x $3.10 per unit Material B 1,100 units x $4.15 per unit Materials used Material A................................... 4,150 units Material B................................... 1,005 units Direct labor used 2,950 hours x $9.40 per hour Production output 1,000 units There were no beginning direct materials inventories. Required a. Determine the materials price and quantity variances. b. Determine the labor rate and efficiency variances Step by Step Solution
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