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DM & DL variances In December, Sam Antari, president of Antari Inc., received the following...

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Accounting

DM & DL variances
In December, Sam Antari, president of Antari Inc., received the following information from Denise Sweet, the new controller, in regard to November production of travel bags:
November production 4,800 bags
Actual cost of material purchased and used $14,550
Standard material allowed 0.5 square yard per bag
Material quantity variance $600 U
Standard price per yard of material $6
Actual hours worked 9,760 hours
Standard labor time per bag 2 hours
Labor rate variance $1,464 F
Standard labor rate per hour $17
Antari asked Sweet to provide the following information:
a. Standard quantity of material allowed for November production
Answer
square yards
b. Standard direct labor hours allowed for November production
Answer
standard hours allowed
c. Material price variance
Note: Do not use a negative sign with your answer.
Material price variance Answer
Answer
d. Labor efficiency variance
Note: Do not use a negative sign with your answer.
Labor efficiency variance Answer
Answer
e. Standard prime (direct material and direct labor) cost to produce one travel bag $Answer
f. Actual cost to produce one travel bag in November
Note: Round your final answer to two decimal places.
$Answer

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