Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Same problem Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (10 pounds @ $3 per

image text in transcribedimage text in transcribedSame problem

Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (10 pounds @ $3 per pound) $ 3e Direct labor (2 hours @ $12 per hour) 24 During June the company incurred the following actual costs to produce 9.000 units. Direct materials (92,eee pounds @ $2.95 per pound) $ 271,400 Direct labor (18,8ee hours $12.95 per hour) 226,548 AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity varlances. (2) Compute the direct labor rate varlance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Required 1 Required 2 > Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (18 pounds @ $3 per pound) $ 30 Direct labor (2 hours @ $12 per hour) 24 During June the company incurred the following actual costs to produce 9.000 units. Direct materials (92,60pounds @ $2.95 per pound) $ 271,4e2 Direct labor (18,8ee hours $12.95 per hour) 226,540 AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity varlances. (2) Compute the direct labor rate variance and the direct labor efficiency varlance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Financial Instruments

Authors: Cormac Butler

1st Edition

0470699809, 978-0470699805

More Books

Students also viewed these Accounting questions

Question

Dont off er e-mail communication if you arent going to respond.

Answered: 1 week ago