Question
Q1.) Retriever Company recently used 14,000 labor hours to produce 7,600 completed units. According to manufacturing specifications, each unit is anticipated to take two hours
Q1.) Retriever Company recently used 14,000 labor hours to produce 7,600 completed units. According to manufacturing specifications, each unit is anticipated to take two hours to complete. The company's actual payroll cost amounted to $158,200. If the standard labor cost per hour is $11.10, the company's labor rate variance is:
Q2.) Chow Chow Company produces cashmere sweaters. According to the production standard, each sweater is expected to consume 2 pounds of cashmere. The standard price of cashmere is $3 per pound. Last week 2,460 pounds of cashmere were purchased at a total of $7,872, and 2,580 pounds were used to make 1,100 sweaters. Determine direct-material quantity variance.
Q3.) Consider the following information:
Actual | $10,000 |
Standard price of direct material | $0.2 per gallon |
Direct-material price variance | $3872 U |
How many gallons of direct material were purchased and used? (Do not round intermediate calculations. Round the final answer to the nearest whole number.)
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