Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve all requirments OC Exercise 9-13 (Algo) Direct Materials and Direct Labor Variances [LO9-4, LO9-5) ins Huron Company produces a commercial cleaning compound known

please solve all requirments
image text in transcribed
OC Exercise 9-13 (Algo) Direct Materials and Direct Labor Variances [LO9-4, LO9-5) ins Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price or Standard Hours Rate Cost Direct materials 6.50 pounds $ 1.99 per pound $ 12.35 Direct labor 0.30 hours $13.00 per hour $ 3.90 During the most recent month, the following activity was recorded: eBook References a. Twenty thousand five hundred pounds of material were purchased at a cost of $170 per pound b. All of the material purchased was used to produce 3,000 units of Zoom C. 800 hours of direct labot time were recorded at a total labor cost of $12,000 Required: 1 Compute the materials price and quantity variances for the month, 2. Compute the labor rate and efficiency variances for the month. (For all requirements, indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar) 1. Materials price variance 1. Materiais quantity variance 2 Labor rate variance 2. Labor efficiency variance $ 5 $ 5 5,100 11,400 1,600 1.300F

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

Im Just A Girl Who Loves Auditing And Coffee

Authors: Michael Happiness

1st Edition

B08HT8643K, 979-8684238604

More Books

Students also viewed these Accounting questions

Question

2. Identify the call to adventure in Rocky.

Answered: 1 week ago