Question
The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @
The following information applies to the questions displayed below.] A manufactured product has the following information for June.
| Standard | Actual | |||
| Direct materials | 6 lbs. @ $8 per lb. | 48,500 | lbs. @ $8.10 per lb. | |
| Direct labor | 2 hrs. @ $16 per hr. | 15,700 | hrs. @ $16.50 per hr. | |
| Overhead | 2 hrs. @ $12 per hr. | $ | 198,000 | |
| Units manufactured | 8,000 | |||
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
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IRS Audit Protection And Survival Guide Trucking Industry
Authors: Daniel J. Baran, Gerald F. Bernard, James E. Brown
1st Edition
0471166413, 978-0471166412
