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The Koski Company has established standards as follows: Direct material: 3 lbs. @ $4/lb. = $12 per unit Direct labor: 2 hrs. @ $8/hr. =
The Koski Company has established standards as follows: Direct material: 3 lbs. @ $4/lb. = $12 per unit Direct labor: 2 hrs. @ $8/hr. = $16 per unit Actual production figures for the past year were as follows: Units produced: 500 Direct material used: 1,600 lbs. Direct material purchased (3,000 lbs.): $12,300 6. The Koski Company has established standards as follows: Direct material: 3 lbs. @ $4/lb. = $12 per unit Direct labor: 2 hrs. @ $8/hr. = $16 per unit Actual production figures for the past year were as follows: Units produced: 500 Direct material used: 1,600 lbs. Direct material purchased (3,000 lbs.): $12,300 Direct labor cost (950 hrs.): $7,790 The materials quantity variance is: $410 favorable $410 unfavorable $400 favorable $400 unfavorable
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