Question
XYZ Ltd manufactures a product with the following standard costs: Direct materials 5 kg per unit at $12 per kg, Direct labor 7 hours per
XYZ Ltd manufactures a product with the following standard costs: Direct materials 5 kg per unit at $12 per kg, Direct labor 7 hours per unit at $18 per hour. During the month, the company produced 6,000 units. Actual costs were: Direct materials $360,000 and Direct labor $450,000. Calculate the material and labor variances.
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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
5th Canadian edition
77429494, 1259105709, 1260480798, 978-1259105708
