Question

Struggling to get the answers to this last problem.

eBook Calculator Direct Materials and Direct Labor Variances At the beginning of June, Bezco Toy Company budgeted 26,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows Direct materials Direct labor $39,000 18,200 $57,200 Total The standard materials price is $0.5 per pound. The standard direct labor rate is $14 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Total Actual direct materials $34,900 Actual direct labor 16,300 $51,200 There were no direct materials price or direct laborate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Bezco Toy Company actually produced 22,600 units during June Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct materials quantity variance Direct labor time variance Feedback Unfavorable arances can be thought of increasing cows Favorable varices can be thought of as decreasing costs acredit Learning Objective Previous mat tor Save and Sub Assignment for Grading

Answer 1

Answer question

Direct Material Quantity Variance I Standard Quantity for actual production – Actual avantity & Standard used Price & 0.5 T $39,000 x 22, 600 I $0.5 x 26000 – $34900 $0.5 = - (67,800 $ +1000 – 69,800) x 0.5 Unfavourable Direct labour Time variance Standard hours for I actual Production Actual hones & Standard uged ] Rate - 14 = - r$ 18,200 x 22,600 163.00 7 X $14 x 26000 14 [1,130 - 1164.29] x14 $ + 480 Un favourable