Materials Price Variance = (SP - AP) *AQ
= (0.34-0.33)*72,000
= 720 F
Materials Quantity Variance = (SQ-AQ) *SP
= (4700*7 - 41,125)*0.34
= 2797 U
Labor Rate Variance = (SR-AR) *AH
= (7.50 - 54202/6610)*6610
= 4627 U
Labor efficiency variance = (SH-AH) * SR
= (4700*1.3 - 6610)*7.50
= 3750 U
Note that I have rounded some numbers. Comment if you face any issues
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.5 hours per toy at $7.10 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $1.50 per micron Direct labor: 1.3 hours per toy at $21 per hour During July, the company produced 3,000 Maze toys. The toy's production data for the month are as follows: Direct materials. 25,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.31 per micron Direct labor: 1.4 hours per toy at $7.20 per hour During July, the company produced 5,100 Maze toys. The toy's production data for the month are as follows: Direct materials. 75,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 6 microns per toy at $0.34 per micron Direct labor: 12 hours per toy at $710 per hour During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials: 74,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.30 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 76,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.31 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 77,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.32 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.35 per micron Direct labor: 1.5 hours per toy at $7.10 per hour During July, the company produced 4,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 70,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.34 per micron Direct labor: 1.4 hours per toy at $6.50 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials. 78,000 microns were purchased at a cost of...