Orion Corporation has established the following standards for the prime costs of one unit of its...

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Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. D

business accounting

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Answer 1

Answer #1

1. Direct materials price variance =205200*((274670/227000)-1.10) =205200*(1.21-1.10) = 22572 Unfavorable

2. Direct materials quantity variance=1.10*(205200-36000*6)= $11880 F

3. Direct materials purchase price variance=227000*(1.21-1.10) = 24970 U

4. Direct labor = 72576*75%= $54432

Direct labor rate variance = 54432-(11520*6)= $14688 F

5.Direct labor efficiency variance=6*(11520-36000*0.3)= $4320 U

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Answer 2

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