Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 22 Not yet answered Marked out of 12.00 Flag question Question 2 (Total 12 points) The following data for the Beta Company pertain to

image text in transcribed
Question 22 Not yet answered Marked out of 12.00 Flag question Question 2 (Total 12 points) The following data for the Beta Company pertain to the production of 3,000 teapots during March: (All materials purchased were used) Standard Direct Material Price: $5.80 per pound of teapot Total Actual Cost in Direct Material: $37,862.50 Standard Direct Material Used for unit produced: 2 pounds per teapot Materials Price variance: $325 Unfavourable Standard Direct Labor Cost is 3 teapots per hour: $21.00 per hour Actual Direct Labor Cost per hour: $24 Total Actual Cost in Direct Labor: $28,800 Required: a. (3 points) What is the actual direct materials per teapot? b. (3 points) What is the direct material quantity variance? c. (3 points) What is the labour rate variance for direct manufacturing labor? d. (2 points) What is the labour efficiency variance of direct manufacturing labor? e. (1 point) Who is usually the best position to explain why the Direct material price variances occurred? * * *Answers to Section C inputted via this quiz link are NOT graded * * *

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Accounting Theory

Authors: William R Scott

5th Edition

0132072866, 978-0132072861

Students also viewed these Accounting questions