a The company recognizes price variances when materials are purchased. Required:
Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.
Compute the materials price and quantity variances for each material.
Compute the labor rate and efficiency variances for each operation.
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b The standard labor rate is $ per hour in Sintering and $ per hour in Finishing.
c During May, direct laborhours were worked in Sintering at a total labor cost of $ and direct laborhours were
worked in Finishing at a total labor cost of $
d Production during May was Alphas and Zetas
Required:
Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.
Compute the materials price and quantity variances for each material.
Compute the labor rate and efficiency variances for each operation.
