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requirements:

Requirements 1. Determine the direct material price and quantity variances. Be sure to label each variance as favorable or unfavorable. 2. Think of a plausible explanation for the variances found in Requirement 1. 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as favorable or unfavorable. 4. Could the explanation for the labor variances be tied to the material variances? Explain. The Homer Restaurant Group manutactures the bags of teozen Fiench fries used at its franchised restaurants. Last week, Homer's purthesed and used 100,000 pounds of potatioes at a peice of \$0. 70 per pound. During the woek, 1,800 direct labor haurs wore incurred in the plaht at a rate of $12.35 per hour. The standard price per pousd of potatoes is 50 . rate is \$12.15 per hour. Standards indicate that for the number of bogs of frozen fres produced, the faciory should have used 98,000 peunts do potatoes and 1,700 hours of drect iabor Read the tegarements Requirement 1. Deternine the direct material price and quantily variances. Be sure to label each variance as favorable or untavonble. (Enter ithe vaciances as poeitive nimbera. Enter cumuncy Bogin by determining the formula for the price variance, then compute the price variance for drect materals The Homer Restaurant Group manufactures the bags of trozen French fries used at its franchlsed mestaurants. Last week Homvrrs purchased and used too,coo pounds of potatces of a price of 50.70 per pound. During the week, 1.800 direct labor hours were incuned in the plant at a rate of $12.35 per hour. The standard price per pound of potatoes is 50 pos, and the atandard drect labor rate is $12.15 per hour. Standards indicate that for the number of bags of frozen tries produced, the factory should have used 96.000 pounds of potatoes and 1,700 hours of direct labor Read the tequirements Requirements 1. Determine the direct material price and quantity variances. Be sure to label each variance as favorable or unfavorable. 2. Think of a plausible explanation for the variances found in Requirement 1. 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as favorable or unfavorable. 4. Could the explanation for the labor variances be tied to the material variances? Explain. Requirements 1. Determine the direct material price and quantity variances. Be sure to label each variance as favorable or unfavorable. 2. Think of a plausible explanation for the variances found in Requirement 1. 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as favorable or unfavorable. 4. Could the explanation for the labor variances be tied to the material variances? Explain. The Homer Restaurant Group manutactures the bags of teozen Fiench fries used at its franchised restaurants. Last week, Homer's purthesed and used 100,000 pounds of potatioes at a peice of \$0. 70 per pound. During the woek, 1,800 direct labor haurs wore incurred in the plaht at a rate of $12.35 per hour. The standard price per pousd of potatoes is 50 . rate is \$12.15 per hour. Standards indicate that for the number of bogs of frozen fres produced, the faciory should have used 98,000 peunts do potatoes and 1,700 hours of drect iabor Read the tegarements Requirement 1. Deternine the direct material price and quantily variances. Be sure to label each variance as favorable or untavonble. (Enter ithe vaciances as poeitive nimbera. Enter cumuncy Bogin by determining the formula for the price variance, then compute the price variance for drect materals The Homer Restaurant Group manufactures the bags of trozen French fries used at its franchlsed mestaurants. Last week Homvrrs purchased and used too,coo pounds of potatces of a price of 50.70 per pound. During the week, 1.800 direct labor hours were incuned in the plant at a rate of $12.35 per hour. The standard price per pound of potatoes is 50 pos, and the atandard drect labor rate is $12.15 per hour. Standards indicate that for the number of bags of frozen tries produced, the factory should have used 96.000 pounds of potatoes and 1,700 hours of direct labor Read the tequirements Requirements 1. Determine the direct material price and quantity variances. Be sure to label each variance as favorable or unfavorable. 2. Think of a plausible explanation for the variances found in Requirement 1. 3. Determine the direct labor rate and efficiency variances. Be sure to label each variance as favorable or unfavorable. 4. Could the explanation for the labor variances be tied to the material variances? Explain