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pls help Regent Corp. uses a standard cost system to account for the costs of its one product. Materials standards are 2.9 pounds of material
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Regent Corp. uses a standard cost system to account for the costs of its one product. Materials standards are 2.9 pounds of material at $13 per pound, and labor standards are 4 hours of labor at a standard wage rate of $10. During July Regent Corp. produced 3,220 units. Materials purchased and used totaled 10,040 pounds at a total cost of $132.320. Payroll totaled $148.180 for 13,150 hours worked a. Calculate the direct materials price variance. (Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable". "Unfavorable", or "None" for no effect (lue., zero verlance).) Favorable None Unfavorable b. Calculate the direct materials quantity variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (.e., zero variance).) Quantity Variance Regent Corp. uses a standard cost system to account for the costs of its $13 per pound, and labor standards are 4 hours of labor at a standard units. Materials purchased and used totaled 10,040 pounds at a total co worked. a. Calculate the direct materials price variance. (Do not round your inte selecting "Favorable", "Unfavorable", or "None" for no effect (I.e., zera Price Variance 3 Favorable None Unfavorable b. Calculate the direct materials quantity variance. (Indicate the effect of v for no effect (i.e., zero variance).) Quantity Variance Step by Step Solution
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