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Question Content Area Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from
Question Content Area
Direct Materials and Direct Labor Variance Analysis
Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has employees. Each employee presently provides hours of labor per week. Information about a production week is as follows:
Standard wage per hour $
Standard labor time per unit min.
Standard number of lbs of brass lbs
Standard price per lb of brass $
Actual price per lb of brass $
Actual lbs of brass used during the week lbs
Number of units produced during the week
Actual wage per hour $
Actual hours for the week employees times hours hrs
Required:
a Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.
Direct materials standard cost per unit $fill in the blank
Direct labor standard cost per unit $fill in the blank
Total standard cost per unit $fill in the blank
b Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Direct Materials Price Variance $fill in the blank
Direct Materials Quantity Variance $fill in the blank
Total Direct Materials Cost Variance $fill in the blank
c Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Direct Labor Rate Variance $fill in the blank
Direct Labor Time Variance $fill in the blank
Total Direct Labor Cost Variance $fill in the blank
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