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Questions 56 through 61 employ the following data set: The Nickel Plate Road, Inc.'s standard costs and actual costs for direct materials, direct labor, and
Questions 56 through 61 employ the following data set: The Nickel Plate Road, Inc.'s standard costs and actual costs for direct materials, direct labor, and factory overhead for the manufacture of 2,500 units of product are as follows: 56. Direct Materials Direct Labor 2,500 kilograms@ $8.00 7,500 hours @ $12.00 Direct Materials Direct Labor Factory Overhead (100% capacity-10,000 hours): 2,600 kilograms@ 8.75 7,400 hours @ $11.40 Variable costs@ $2.00 per hour Total variable cost, $18,000 Fixed cost @ $.80 per hour Total fixed cost, $8,000 The amount of the direct materials quantity variance is a. $800 unfavorable b. $875 favorable c. $875 unfavorable d. $800 favorable 57. The amount of the direct materials price variance is a. $1,875 unfavorable b. $1,950 favorable c. $1,950 unfavorable d. $1,875 favorable 58. The amount of the direct labor rate/price variance is a. $4,440 unfavorable b. $4,500 favorable c. $4,500 unfavorable d. $4,440 favorable
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