XYZ Ltd manufactures a product with the following standard costs: Direct materials 3 kg per unit at

Fantastic news! We've Found the answer you've been seeking!

Question:

XYZ Ltd manufactures a product with the following standard costs: Direct materials 3 kg per unit at $10 per kg, Direct labor 5 hours per unit at $15 per hour. During the month, the company produced 4,000 units. Actual costs were: Direct materials $120,000 and Direct labor $200,000. Calculate the material and labor variances.

Posted Date: Jun 06, 2024 06:06 AM

See More Questions

1 Which of the following cannot be seen on a break-even chart? (a) Unsold inventory (b) Fixed costs (c) Variable costs (d) Sales revenue
Given the following network (times are in weeks), determine: (a) The ES, LS, EF, and LF for each activity. (b) The slacks on all activities. (c) The critical activities andpath. C7 H4 D2 E6 Start...
3. Graph of function is shown below a) Write the intervals on which this function is increasing. b) Write the intervals on which this function is decreasing
As a Homeland Security program coordinator, create a strategic plan to build and execute a new method to verify potential entrants to the United States using a Strategy Change Cycle to strategically...
Uber Gobbles Up PostmatesIn June, as food ordering continued to increase through the pandemic, Uber was sidelined in acquisition talks with Grubhub when European take - out giant Just Eat Takeaway...
A 4-year-old child has been on an oral antibiotic for 7 days. She still has the same symptoms as when she started taking the antibiotic. Her mother calls the pharmacy and speaks to a pharmacy...
For most of his opinion, Justice Marshall considers whether the death penalty is needed for the deterrence of the crime of murder and as retribution for that crime. These are the two major lines of...
Jonah suggested that performance measures like profit and ROI were not meaningful in departments of the plant. What three performance measures did he suggest as better?
Storage costs are 25% per annum of stock value. Ordering costs are K20,000 per order. Price per unit of material is K3,200. You are required to calculate (a) Reorder level (b) Economic Order Quantity...
Suppose that the position of one particle at time t is given by x1 = 3 sin(t), y1 = 2 cos(t), 0
Sasha Verbitsky Corporation has outstanding 1,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31, 2008, when the unamortized...
On January 1, 2008 (the date of grant), Lee Corporation issues 2,000 shares of restricted stock to its executives. The fair value of these shares is $90,000, and their par value is $10,000. The stock...
Sam Perkins, Inc. established a stock appreciation rights (SAR) program on January 1, 2007, which entitles executives to receive cash at the date of exercise for the difference between the market...

XYZ Ltd manufactures a product with the following standard costs: Direct materials 3 kg per unit at

Question:

Expert Answer:

Students also viewed these accounting questions