Total Materials Variance Krumple Inc. produces aluminum cans. Production of 10-ounce cans has a standard unit quantity of 4.9 ounces of aluminum per can. During the month of April, 290,000 cans were produced using 1,250,000 ounces of aluminum. The actual cost of aluminum was $0.18 per ounce and the standard price was $0.07 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a positive number and select Favorable or Unfavorable. UnfavorableMaterials Variances Krumple Inc. produces aluminum cans. Production of 127ounce cans has a standard unit quantity of 4.4 ounces of aluminum oer can. During the month oonril, 301,000 cans were produced using 1,251,000 ounces of aluminum. The actual cost of aluminum was $0.22 per ounce and the standard price was $0.13 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials once and usage variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. @ C Materials Price Variance Material Usage Variance Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.015 hours. During the month of April, 490,000 bottles were produced using 13,000 labor hours @ $9.25. The standard wage rate is $7.25 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent. $Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.026 hour. During the month of April, 900,000 bottles were produced using 23,200 labor hours @ $14.00. The standard wage rate is $12.00 per hour. Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches. Enter amounts as positive numbers and select Favorable or Unfavorable. Labor rate variance Labor efficiency varianceStandard Quantities of Labor and Materials Stillwater Designs rebuilds defective units of its S1217 Kicker speaker model. During the year, Stillwater rebuilt 15,000 units. Materials and labor standards for performing the repairs are as follows: Direct materials (1 recon kit @ $160) $160.00 Direct materials (1 cabinet @ $55) 55.00 Direct labor (5 hrs. @ $15) 75.00 Required: 1. Compute the standard hours allowed for a volume of 15,000 rebuilt units. hours 2. Compute the standard number of kits and cabinets allowed for a volume of 15,000 rebuilt units. Standard number of kits kits Standard number of cabinets cabinets 3. Suppose that during the first month of the year, 15,000 standard hours were allowed for the units rebuilt. How many units were rebuilt during the first month? unitsBudget Variances, Materials and Labor Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (2 strips @ $6.00) $12.00 Direct labor (0.5 hr. @ $14.00) 7.00 Total prime cost $19.00 During the first month of the year, the Boise plant produced 39,000 belts. Actual leather purchased was 110,000 strips at $3.20 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 36,000 hours at $14.50 per hour. Required: 1. Compute the costs of leather and direct labor that should be incurred for the production of 39,000 leather belts. Materials Labor 2. Compute the total budget variances for materials and labor. Total Budget Variance Materials Labor 3. Conceptual Connection: Would you consider these variances material with a need for investigation?Materials and Labor Variances At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products: Direct materials (5 lbs. @ $4.00) $20.00 Direct labor (2 hrs. @ $15.00) 30.00 Standard prime cost per unit $50.00 The actual results for the year are as follows: a. Units produced: 350,000. b. Materials purchased: 2,450,000 pounds @ $4.80. c. Materials used: 2,135,000 pounds. d. Direct labor: 630,000 hours @ $12.60. Required: 1. Compute price and usage variances for materials. Enter amounts as positive numbers and select Favorable or Unfavorable. Material price variance Material usage variance 2. Compute the labor rate and labor efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable. Labor rate variance Labor efficiency variance