Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following information in solving multiple choice problems 32 through 35. Flexer Company has set the following standards for the production of one unit
Use the following information in solving multiple choice problems 32 through 35. Flexer Company has set the following standards for the production of one unit of product. Normal production each month is 500 units. Direct material: 8 pounds at 56.50 per pound Direct labor: 4 hours at $7.00 per hour $ 52.00 28.00 During June, actual production amounted to 420 units. All direct material was purchased and used this month. Actual costs amounted to: Direct material: 3,500 pounds 1,720 hours $ 21,875 Direct labor: 12,212 The direct material price variance for June production is calculated to be: $ 1,000 U. A. B. 5 840 F. C. 5 840 U. D. S 875 F. E S 875 U. 3 The direct material quantity variance for June production is calculated to be: A. S 35 U. B. $ 875 U. C $ 910 U. D. 5 875 F. E. S 3,250 F. 4 The direct labor rate variance for June production is calculated to be: A
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started