Question
You have been given the following per unit information about the production of Harrold Ltd and are asked to provide the plant manager with information
You have been given the following per unit information about the production of Harrold Ltd and are asked to provide the plant manager with information of a meeting with the vice president of operation.
1) The total direct material price variance is
2) the direct material price variance is a) favourable b) neither favourable or unfavourable c) unfavourable
3) The total direct material usage variance is
4) the direct material usage variance is a) favourable b) neither favourable or unfavourable c) unfavourable
5) The total labour rate variance is
6) The direct labour rate variance is a) favourable b) neither favourable or unfavourable c) unfavourable
7) The total labour efficiency variance is
8) The direct labour efficiency variance is
Standard Standard Actual Actual Quantity Price Quantity Price Direct materials 3 kg $4/kg 3.5 kg $4.50 / kg Direct labour 2 hours $17/ hour 2.5 hours $16 /hour Production data, both budgeted and actual, for the year are as follows: 10 Description Actual production (units) Actual materials purchased and used (kg) Amount 58,000 203,000Step by Step Solution
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