a | |||
Direct materials standard cost per faucet | 12.60 | =1.2*10.5 | |
Direct labor standard cost per faucet | 4.20 | =12.6*(20/60) | |
Total cost per faucet | 16.80 | ||
b | |||
Price variance | 2500 | Unfavorable | =10000*(10.75-10.5) |
Quantity variance | 2940 | Unfavorable | =10.5*(10000-8100*1.2) |
Total direct materials cost variance | 5440 | Unfavorable | =(10000*10.75)-(8100*10.5*1.2) |
c | |||
Rate variance | 1120 | Unfavorable | =2800*(13-12.6) |
Time variance | 1260 | Unfavorable | =12.6*(2800-8100*20/60) |
Total direct labor cost variance | 2380 | Unfavorable | =(2800*13)-(8100*12.6*20/60) |
Direct Materials and Direct Labor Variance Analysis Faucet Industries Inc. manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Faucet Industries Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Faucet Industries has 40 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.80 Standard labor time per faucet 15 min. Standard number of lbs. of zinc 1.8 lbs. Standard price per lb. of zinc $10.50 Actual price per lb. of zinc $10.75...
Direct Materials and Direct Labor Variance Analysis Faucet Industries Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Faucet Industries has 40 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hour $15.00 Standard labor time per faucet 20 min. Standard number of lbs. of zinc 2.1 lbs. Standard price per lb. of zinc $10.25 Actual price per lb. of zinc $10.50...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 70 employees. Each employee presently provides 38 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $20.00 Standard labor time per faucet 30 min. Standard number of lbs. of brass 2.5 lbs. Standard price per lb. of brass $1.80 Actual price per lb. of brass $1.95 Actual...
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Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.20 Standard labor time per unit 20 min. Standard number of lbs. of brass 2.1 lbs. Standard price per lb. of brass $12.00 Actual price per lb. of brass $12.25 Actual...
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