Materials price variance = (Actual quantity purchased * Actual price) - (Actual quantity purchased * Standard price)
= (13,800 * $2.4) - (13,800 * $2.5)
= $33,120 - $34,500
= $1,380 F
Materials quantity variance = (Actual quantity used * Standard price) - (Standard quantity * Standard price)
= (12,420 * $2.5) - [(1,380 * $7.1) * $2.5]
= $31,050 - $24,495
= 6,555 U
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Standard Price Quantity or Hours Standard or Rate $ 2.50 per pound $14.50 per hour Cost 7.10 pounds 0.50 hours Direct materials Direct labor $17.75 $ 7.25 During the most recent month, the following activity was recorded: a. Thirteen thousand eight hundred pounds of material were purchased at a cost of $2.40 per pound....
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.50 hours Standard Price or Rate $ 2.50 per pound $14.50 per hour Standard Cost $17.75 $ 7.25 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Thirteen thousand eight hundred pounds of material were purchased at a cost of $2.40 per pound....
(Please show calculations for study purposes) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.10 pounds $ 2.50 per pound $ 17.75 Direct labor 0.50 hours $ 14.50 per hour $ 7.25 During the most recent month, the following activity was recorded: Thirteen thousand eight hundred pounds of material were purchased...
Can you correct the wrong inputs please Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.50 hours Standard Price or Rate $ 2.50 per pound $14.50 per hour Standard Cost $17.75 $ 7.25 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Thirteen thousand eight hundred pounds of material were purchased...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below. Standard Quantity or Hours 6.70 pounds 0.50 hours Standard Price or Rate $2.50 per pound $12.50 per hour Standard Cost $16.75 $ 6.25 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Thirteen thousand pounds of material were purchased at a cost of $2.40 per pound. b. The company...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below Standard Quantity or Standard Price Standard Hours or Rate Cost Direct materials Direct labor 6.80 pounds $ 3.00 per pound $20.40 0.40 hours 13.00 per hour 5.20 During the most recent month, the following activity was recorded: a. Thirteen thousand two hundred pounds of material were purchased at a cost of $2.90 per pound. b....
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.00 pounds $ 3.00 per pound $ 21.00 Direct labor 0.40 hours $ 14.00 per hour $ 5.60 During the most recent month, the following activity was recorded: Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 per...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Standard Cost $18.00 5.60 Standard Price Quantity or Hours or Rate 7.50 pounds Direct materials $2.40 per pound $7.00 per hour Direct labor 0.80 hours During the most recent month, the following activity was recorded: a. Thirteen thousand two hundred and fifty pounds of material were purchased at a cost of $2.20 per pound....
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 6.00 pounds $ 2.30 per pound $ 13.80 Direct labor 0.50 hours $ 10.00 per hour $ 5.00 During the most recent month, the following activity was recorded: Eleven thousand pounds of material were purchased at a cost of $2.10 per pound. All...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Please help me correct my error, provide me the way to do it too if possible: Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost $16.25 5.75 Direct materials...