1-[The following information applies to the questions displayed below.] A manufactured product has the following...
80.2K
Verified Solution
Link Copied!
Question
Accounting
1-[The following information applies to the questions displayed below.] A manufactured product has the following information for June.
Standard
Actual
Direct materials
6 lbs. @ $8 per lb.
46,100
lbs. @ $8.20 per lb.
Direct labor
2 hrs. @ $16 per hr.
15,000
hrs. @ $16.50 per hr.
Overhead
2 hrs. @ $12 per hr.
$
189,200
Units manufactured
7,600
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
2-A manufactured product has the following information for June.
Standard
Actual
Direct materials
6 lbs. @ $8 per lb.
46,100
lbs. @ $8.20 per lb.
Direct labor
2 hrs. @ $16 per hr.
15,000
hrs. @ $16.50 per hr.
Overhead
2 hrs. @ $12 per hr.
$
189,200
Units manufactured
7,600
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
