70.2K
Verified Solution
Link Copied!
A manufactured product has the following information for June.
| | Standard | Actual |
| Direct materials | (5 lbs. @ $8 per lb.) | | 42,400 | lbs. @ $8.10 per lb. |
| Direct labor | (2 hrs. @ $17 per hr.) | | 16,600 | hrs. @ $17.50 per hr. |
| Overhead | (2 hrs. @ $12 per hr.) | $ | 207,400 | |
| Units manufactured | | | 8,400 | |
| |
Exercise 23-9 Direct materials variances LO P2
AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
Actual Cost Standard Cost
Answer & Explanation
Solved by verified expert
