Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Shasta Foxture Company manufactures taucets in a small manufacturing facility. The faucets are made from brass, Manufacturing has 30 employees. Each employee presently provides 40
Shasta Foxture Company manufactures taucets in a small manufacturing facility. The faucets are made from brass, Manufacturing has 30 employees. Each employee presently provides 40 hours of labor per week. Information about o production week is as follows: Standard wage per hour $14.40 20 min 1.81 Standard labor time per unit Standard number of is, of brass Standard price per ibof brass Actual price per b. of brass Actualids, or brass used during the week Number of units produced during the week Actual wage per hour Actual hours for the week (30 employees x 40 hours) $9.25 $9.50 15,574 8,400 $14.83 1,200 Required: a. Oturmine the standato per un for direct materials and direct inbor Round the cost per unit to two decimal places Direct materials standard cost per unit Direct labor standard cost per unit Total Standard cost per unit b. Determine the direct maten direct materia and total recte Round your answers to the nearest whole dollar. Entro favorable variance as a negativnom Direct Materials Price Variance 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 varsance as a negative number using a minus sign and an unfavorable variance as a positivember Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance c. Determine the direct laboratuva, direct labore 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 Direct Labor Time Variance Total Direct Labor Cost Variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started