Answer | |
Direct Material Price Variance | = (Actual Price - Standard Price) * Actual Quantity |
= (9.60 - 9.10) * (67200/9.60) | |
= 3500 (U) | |
Direct Material Quantity variance | = (Actual Quantity - Standard Quantity) * Standard price |
= ((67200/9.60) - (3300*2)) * 9.10 | |
= 3640 (U) | |
Direct labor rate variance | = (Actual rate - Standard rate) * Actual Hours |
= (24 - 22.50) * (312000/24) | |
= 19500 (U) | |
Direct labor efficieny variance | = (Actual hours - Standard hours) * Standard rate |
= ((312000/24) - (3300*4)) * 22.50 | |
= 4500 (F) |
Question 1 (40 Marks: 10 each): During June, Health Foods manufactures a single product. The Company's...
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