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table [ [ , Raw Material,Standard Labor Time ] , [ Product , X 4 4 2 , Y 6 6 1 , Sintering,Finishing
tableRaw Material,Standard Labor TimeProductXYSintering,FinishingAlpha kilos, liters, hours, hoursZeta kilos, liters, hours, hours
Information relating to materials purchased and materials used in production during May follows:
tablePurchaseMaterialPurchases,Cost,Standard Price,Used in ProductionX kilos,$$ per kilo, kilosY liters,$$ per iter, liters
The following additional information is available:
a The company recognizes price variances when materials are purchased.
b The standard labor rate is $ per hour in Sintering and $ per hour in Finishing.
c During May, direct laborhours were worked in Sintering at a total labor cost of $ and direct laborho worked in Finishing at a total labor cost of $
d Production during May was Alphas and Zetas
Required:
Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.
Compute the materials price and quantity variances for each material.
Compute the labor rate and efficiency variances for each operation.
Complete this question by entering your answers in the tabs below.
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Compute the labor rate and efficiency variances for each operation. Indicate the effect of each variance by selecting for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
tableDirect Labor VariancesSintering:,,Labor rate variance,,Labor efficiency variance,,Direct Labor VariancesFinishing:,,Labor rate variance,,Labor efficiency variance,,
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