Required Information Use the following information for the Exercises below. [The following Information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. & $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. @ $11 per hr.) Actual 55,800 lbs. @ $8.20 per lb. 23, 300 hrs. $16.40 per hr. $266,300 7,900 Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total $ 0 (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance Unfavorable Required Information Use the following Information for the Exercises below. [The following information applies to the questions displayed below) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. $11 per hr.) Actual 55,800 lbs. @ $8.20 per lb. 23,300 hrs. $16.40 per hr. $266,300 7,900 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP = Standard Price Standard Cost Actual Cost AQ X 55,800 AP SP SQ x SP AQ 55,800 X X $ 0 $ 0 $ Direct materials price variance Direct materials quantity variance Total direct materials variance 0 Favorable OUnfavorable Unfavorable Required Information Use the following Information for the Exercises below. [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. @ $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. $11 per hr.) Actual 55,800 lbs. @ $8.20 per lb. 23,300 hrs. $16.40 per hr. $266,300 7,900 Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH=Standard Hours AR = Actual Rate SR Standard Rate Actual Cost Standard Cost SR AH X AR X SR Sh AH 23,300 23,300 X X $ 0 $ 0 $ Direct labor rate variance Direct labor efficiency variance Total direct labor variance Unfavorable O'Favorable Unfavorable
