Question

BASE DATA: Budgeted (Std) Quantity of Direct Materials for Production 960 Budgeted (Std) Price of Direct Materials per Pound 1,955.00 Budgeted (Std) Quantity of Direct Labor Hours Used for Production 829 Budgeted (Std) Price of Direct Labor per Hour 849.00 Budgeted (std) Units Produced and Sold 20,133 Actual Quantity of Direct Materials Used for Production 944 Actual Price of Direct Materials per Pound 1,812.00 Actual Quantity of Direct Labor Hours Used for Production 832 Actual Price of Direct Labor per Hour 852.00 Note: It takes one unit of direct materials to make one production unit. WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: QUESTION ONE What is the Direct Manufacturing Labor Price Variance? Record answer in dollars and cents here Record whether above anstver is "favorable" or "unfavorable here QUESTION 2 What is the Direct Manufacturing Material Price Variance? Record answer in dollars and cents here Record whether above anstver is "favorable" or "unfavorable here QUESTION 3 What is the Direct Manufacturing Labor Efficiency Variance? Record answer in dollars and cents Record whether above ansfer is "favorable" or "unfavorable here

Answer 1

for any clarifications please comment.

SQ = Bud geley Cold) Quantity of production - 9oo units SP = Budgeted (std) price per pound = $ 1955 AQ= Actual Quantity of used for production = que unit AP= Actual price per pound = $ 1812 BSH = Budgeted cstd) hour for production = 829 hous SR = Budgeted labor rate per show = $849. BH - Actual hour cused for production = 832 houn $95 = price pel cabour hour AR Actual Quection One Montact Direct manu factuling Labourpre Variance CSR-AR) XAH ( 8u9 - 852) X 32. = $ 2496 Unfavourable Question Too Direct manufacturing material Price Vallance = (SP- AP) XAQ - (1455 - (312)x quy & 1341992 Favourable . Question Three Direct manufacturing labeur ethiconly yollance - CSH AHDX AR. (829 - 832) 91. Bu Ipsu un tavourable