Question 5 Question 5 Pumpkin Corp. produces and sells a single product. Standards have been established for the product as follows: 8 pounds @ 3 hours @ Direct materials purchased Cost of direct materials purchased Direct labor employed Cost of direct labor employed Questions: Direct Materials per unit Direct Labor per unit Actual cost and usage figures for the past month follow: Units produced Direct materials used $ $ Compute the variances for the following. a. The labor rate variance Version B 4.00 per pound 13.00 per hour 800 4,200 Pounds 4,600 Pounds $ 15,400 2,000 Hours $ 11,200 12 pts

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Pumpkin Corp. produces and sells a single product. Standards have been established for the product as follows: Actual cost and usage figures for the past month follow: Questions: Compute the variances for the following. a. The labor rate variance