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two part accounting homework question Hodge Co. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

two part accounting homework question
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Hodge Co. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (14 lbs. 54 per 16.) Direct labor (hrs. @ 516 per hr.) $56 48 During June, Hodge Coincurred the following actual costs to produce 9,000 units. Direct materials (128,700 lbs. $3.75 per 1b.) Direct labor (50,100 hrs. $16.10 per hr.). $482,625 414.610 AH = Actual Hours SH - Standard Hours AR - Actual Rate SR Standard Rate AQ - Actual Quantity SQ = Standard Quantity AP Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances, (Indicate the effect of och variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance (Indicate the effect of each variance by selecting (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor sate variance and the direct labor efficiency variance (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materiais price and quantity variances. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable Actual Cost Standard Cont

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