1) Material quantity variance = (Standard qty-actual qty)Standard price
-3750 = (2425*3*5-5X)
5X = 40125
X(actual quantity) = 8025
Actual cost per foot = 43335/8025 = 5.40
1b) Material price variance = (5-5.40)*8025 = 3210 U
Material spending variance = (2425*15-43335) = 6960 U
2a) Labor rate variance = (Standard rate-actual rate)actual hour
-2000 = (X*4000-28000)
-4000X = -26000
X(Standard rate) = 6.50
2b) Labor efficiency variance = (Standard hour-actual hour)Standard rate
-780 = (X*6.50-4000*6.50)
-6.50X = -25220
X(Standard hour) = 3880
2c) Standard hour per unit = 3880/2425 = 1.60 hour per unit
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price...
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