Dawson Toys, Limited, produces a toy called the Maze with the following standards:
Direct materials: microns per toy at $ per micron
Direct labor: hours per toy at $ per hour
During July, the company produced Maze toys. The toy's production data for the month are as follows:
Direct materials. microns were purchased at a cost of $ per micron. of these microns were still in inventory at the end of the month.
Direct labor. direct laborhours were worked at a cost of $
Required:
Compute the following variances for July:
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.
a The materials price and quantity variances.
b The labor rate and efficiency variances.
tablea Material price variance,a Material quantity variance,b Labor rate variance,b Labor efficiency variance,
