Question 4 --/1 View Policies Current Attempt in Progress The standard cost of Product B manufactured by Pharrell Company includes 2.4 units of direct materials at $5.10 per unit. During June, 27,000 units of direct materials are purchased at a cost of $4.85 per unit, and 27,000 units of direct materials are used to produce 11,100 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance $ Materials price variance $ Materials quantity variance $ (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used is 26,600 units. Total materials variance $ Materials price variance $ Materials quantity variance $ --/1 Question 5 View Policies Current Attempt in Progress Lewis Company's standard labor cost of producing one unit of Product DD is 3.00 hours at the rate of $10.00 per hour. During August, 40,000 hours of labor are incurred at a cost of $10.10 per hour to produce 13,200 units of Product DD. t (a) Compute the total labor variance. es Total labor variance $ (b) us Compute the labor price and quantity variances. Labor price variance $ Labor quantity variance $ (c) Compute the labor price and quantity variances, assuming the standard is 3.20 hours of direct labor at $10.20 per hour. Labor price variance $ Labor quantity variance $ e Textbook and Media Question 6 View Policies Current Attempt in Progress The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. port Costs Actual labor rate $14 per hour lings Actual materials price $280 per ton Standard labor rate $13.50 per hour Standard materials price $283 per ton es mpus Quantities con Actual hours incurred and used 4,900 hours Actual quantity of materials purchased and used 1,900 tons Standard hours used 4,950 hours Standard quantity of materials used 1,885 tons (a) Compute the total, price and quantity variances for materials and labor. Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance $ Labor quantity variance $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer --/2 Question 7 View Policies Current Attempt in Progress Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. Materials price variance $1.290 U Labor quantity variance $910 V Materials quantity variance 730 F Overhead variance 830 V Labor price variance 440 U In addition, 8.490 units of product were sold at $9 per unit. Each unit sold had a standard cost of $5. Selling and administrative expenses were $7,580 for the month. Prepare an income statement for management for the month ended January 31, 2020. FISK COMPANY Income Statement $
