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pls complete asap!! Ferty Chemical uses a standard cost system to account for the costs of its production of Chemical x. Standards are 2.63 gallons
pls complete asap!!
Ferty Chemical uses a standard cost system to account for the costs of its production of Chemical x. Standards are 2.63 gallons of materials at $86.00 per gallon and 18.0 hours of labor at a standard wage rate of 51.63, During September, Ferry Chemical produced 1,600 gallons of Chemical X. Ferry Chemical purchased and used 3,960 gallons of materials at a fotal cost of 5418,920 . Payroll totaled $40,879 for 27,330 hours worked. Required: a. Calculate the direct materials price variance. Note: Do not round your intermediate calculations, Indicate the effect of variance by selecting "Favorable", "Unfavorable"; or "None" for no effect (li.e., zero variance). b. Calculate the direct materials quantity varlance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable"; or "None" for no effect (i.e., rero variancel.) c. Calculate the direct labor rate variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). d. Calculate the direct labor efficiency varlance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance) Step by Step Solution
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