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47)Kibodeaux Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard...

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Accounting

47)Kibodeaux Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Inputs Direct materials 9.4 liters $7.00 per liter $65.80 Direct labor 0.5 hours $18.00 per hour $9.00 Variable overhead 0.5 hours $3.00 per hour $1.50 The company budgeted for production of 2,800 units in June, but actual production was 2,900 units. The company used 26,970 liters of direct material and 1,370 direct labor-hours to produce this output. The company purchased 28,970 liters of the direct material at $6.90 per liter. The actual direct labor rate was $18.70 per hour and the actual variable overhead rate was $2.70 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is:

$940 F

$2,030 F

$940 U

$2,030 U

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