Waterways Corporation des very stringent standard costs in evaluating mardhinc These standards are not ideat this point, but the management is working toward that coal. At present the company otes the following standards Materials Item Per unit Cost Metal o per plastic 120 $100 perih Wubber ter Direct laber rem Per unit Cost Labor 15 min $7.00 per Predetermined overdrate based on direct laborhoor-3420 The January figures for purchasing, production, and labore The company purchased 217.900 pounds of raw material in January at a cost of 78 pound Production used 217.900 pounds of raw materials to make 110,000 units can Direct labor sent 18 minutes on each product at a cost of 6.0 per how Overhead costs for January totaled $49,532 variable and $71,000 and Answer the following cantion about standard costs. What is the material price variance? Round per unit collations to 2 decimal places 1.25 and final answer too decimal places, 1250 Materials price variance eTextbook and Media What is the material quantity variance? (Round per unit calculations to 2 decimal places 1.25 and final answer too decimal placeses 125) Material quantity variances e Textbook and Media What is the total materiais variance (Round per unit calculations to 2 decimal places 1.25 and not answer too decimal places 125) Total materiais variances eTextbook and Media What is the total materiais variance? (Round per unit calculations to 2 decimal places 1.25 and final answer too decimal places, st. 125.) Total materials variance $ eTextbook and Media What is the labor price variance? (Round per unit calculations to 2 decimal places, ex. 1.25 and final answer to decimal places, s. 125.) Labor price variance e Textbook and Media What is the labor quantity variance? (Round per unit calculations to 2 decimal places, es. 1.25 and final answer too decimal places, s. 125.) Labor quantity variances eTextbook and Media What is the total labor variance? (Round per unit calculations to 2 decimal places, es. 1.25 and final answer to O decimal places, es 125.) Total labor variances eTextbook and Media What is the total overhead variance? (Round per unit calculations to 2 decimal places, eg. 1.25 and final answer to o decimal places, s. 125. Total overhead variance $ Waterways Corporation as very stringent standard continuating its manufacturing ciciency. These standards are not deat at this point but the moment is working toward that apat At present, the companyines the following standards Materials Item Per unit Cost Metal 1ib 63 perib Plastic 12 01. $1.00 perib Rubber 40 88 perib Direct labor Item Per unit Cost Labor 15 min $7.00 perhe Predetermined overhead rate based on direct labor hours - 54.20 The January figures for purchasing production, and labor are The company purchased 217.900 pounds of raw materials in January at a cost of 78 a pound. Production used 217.900 pounds of raw materials to make 110.000 units in January Direct labor spent 18 minutes on each product at a cost of $6.90 per hour Overhead costs for January totaled 549,532 variable and $71,000 fixed Answer the following questions about standard costs What is the materials price variance? (Round per unit calculations to 2 decimal places. e. 1.25 and final answer to o decimal places, s. 125.) Materials price variance eTextbook and Media What is the materials quantity variance? (Round per unit calculations to 2 decimal places, e., 1.25 and final answer to o decimal places. 125. Materials quantity variance e Textbook and Media What is the total materials variance? (Round per unit calculations to 2 decimal places, e. 1.25 and final answer to O decimal places, eg. 125.) Total materials variance $
