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Urgent Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg
Urgent
Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product:
Direct materials (6 kg at $1.90 per kilogram) | $11.40 | ||
Direct labour (2.00 hours at $10.10 per hour) | $20.20 |
During the month of April, the company manufactures 260 units and incurs the following actual costs:
Direct materials purchased and used (1,660 kg) | $3,403 | ||
Direct labour (490 hours) | $4,753 |
Calculate the total, price, and quantity variances for materials and labour.
Materials | Labour | ||||||
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Price variance | $enter a dollar amount | select a type of the variance |
$enter a dollar amount | select a type of the variance |
Quantity variance | $enter a dollar amount | select a type of the variance |
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$enter a dollar amount | select a type of the variance |
Total variance | $enter a dollar amount | select a type of the variance |
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