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 bags
Actual cost of material purchased and used $
Standard material allowed square yard per bag
Material quantity variance $ U
Standard price per yard of material $
Actual hours worked hours
Standard labor time per bag hours
Labor rate variance $ F
Standard labor rate per hour $
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
