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Whispering Winds, Inc, manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of
Whispering Winds, Inc, manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Whispering Winds estimated 9.670 tybos would be produced in March. Whispering Winds has established the following material and labor standards to produce one tybo: During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. The company produced 9,490 units during the month. 2. A total of 24,500 pounds of materials were purchased at a cost of $67,375. 3. A total of 24,500 pounds of materials were used in production. 4. 5.410 hours of labor were incurred during the month at a total wage cost of $59.510. Calculate the following variances for March for Whispering Winds, Inc, Identify whether each variance is favorable or unfavorable (a) Materials Price Variance 5 (b) Materials Quantity Variance (c) Labor Price Variance (d) LaborQuantity Variance
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