Aldrich Company has the following information available for the current year: Standard: Material 3.5 feet...
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Accounting
Aldrich Company has the following information available for the current year: Standard: Material 3.5 feet per unit @$2.60 per foot, Labor: 5 direct labor hours @$8.50 per unit; Actual: 95,625 feet used (100,000 feet purchased @ $2.50 per foot), 122,400 direct labor hours incurred @ $8.35 per hour, 25,500 units were produced. Refer to Aldrich Company. (a) Compute the material purchase price and quantity variances; (b) Compute the labor rate and efficiency variances.
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