Question
The Unchained Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. The manufacturing division has 45 employees, and each
The Unchained Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. The manufacturing division has 45 employees, and each employee currently works 38 hours of labor per week. Information about a production week is as follows:
The standard number of lbs. of brass | 0.4 lb |
---|---|
Standard price per lb. of brass | $0.80 |
Standard wage per hour | $21.00 |
Standard labor time per faucet | 15 minutes |
Actual price per lb. of brass | $0.90 |
Actual lbs. of brass used during the week | 4,500 lbs. |
Number of faucets produced during the week | 10,000 |
Actual wage per hour | $22.00 |
Actual hours for the week (45 * 38 hrs) | 1,710 |
Determine the below-listed variances. Your work must be readable and noted back to the requirement you are addressing. Final answers should be easily found by use of good grammar, reference, and double underline/bolding/highlighting. For all calculations, just showing numbers does not constitute showing your work. You need to give the formula you are using in words and then show substitution. See the rubric for instructions on how to display your final answers.
Standard cost per unit for direct materials
Standard cost per unit for direct labor
Direct Material price variance
Direct Material quantity variance
Direct Labor rate variance
Direct Labor time variance
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