Answered step by step
Verified Expert Solution
Question
1 Approved Answer
will you answer both questions thank yoi Cloudy Company established the following standards with respect to one of its products: Direct materials (pounds) Direct labor
will you answer both questions
Cloudy Company established the following standards with respect to one of its products: Direct materials (pounds) Direct labor (hours) Variable overhead [applied using machine hours (MH)] Std Qty. 3.0 1.5 10 Std price (rate) $6.00 $30.00 $5.00 Std cost $18.00 $45.00 $5.00 $68.00 Actual results for the past quarter were as follows there was no beginning direct materials inventory): Units produced Direct materials purchased (pounds) Direct materials purchased (dollars) Direct materials used (pounds) Direct labor hours incurred Direct labor cost Variable overhead costs Machine hours (MH) incurred 900 2,800 $17.780 2,650 1,400 $41,440 $4,758 915 Calculate the direct labor quantity variance for the quarter. Rainy Company established the following standards with respect to one of its products: Direct materials (pounds) Direct labor (hours) Variable overhead [applied using machine hours (MH)] Std Qty. 20 1.0 0.5 Std price (rate) $8.00 $20.00 $4.00 Std. cost $16.00 $20.00 $200 $38.00 Actual results for the past quarter were as follows (there was no beginning direct materials inventory): Units produced Direct materials purchased (pounds) Direct materials purchased (dollars) Direct materials used (pounds) Direct labor hours incurred Direct labor cost Variable overhead costs Machine hours (MH) incurred 800 1,800 $13,860 1,640 810 $17,010 $1,634 380 Calculate the direct labor spending (total) variance for the quarter thank yoi
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