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You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the
You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious chocolatier for the month of June. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of May. In order to calculate the variances complete the following table. (Round your final answer to the nearest whole number. Abbreviation used: qty = quantity.) Actual costs Actual input qty incurred Budgeted price Flexible budget Direct materials Direct labor Data table The chocolatier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill Actual Boxes produced 10,000 Direct materials used in production 13,000 pounds (lbs.) Actual direct material cost $78,000 Actual direct manufacturing labor-hours 2,400 Actual direct manufacturing labor cost $31,200 Standards Purchase price of direct materials Materials per box Wage rate Boxes per hour $7.00 per pound 0.90 pounds $15.00 per hour 6
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