The company applies the standard cost system and the purchasing manager and production manager are responsible...
The company applies the standard cost system and the purchasing manager and production manager are responsible for the variance of direct materials and direct wages .The standard price per ton of basic raw material is 4 $ and the standard allowable quantity is 6 tons per unit .The average hourly wage is 14 $ and the standard unit needs 0.5 hours Action.
During the last week, production reached 10,000 units. Due to labor shortage, the production manager was forced to hire temporary workers. The actual direct wages amounted to $ 78,000 for 6500 actual working hours. 80,000 tons of raw materials were purchased at 3.6 $ / ton while 71,000 tons were used during the month
Asks: Direct material variance and direct wages variance
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The company applies the
standard cost system and the purchasing manager and production
manager are responsible...
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managerial accounting, please help
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