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Hart Company made 3,220 bookshelves using 22,220 board feet of wood costing $293,304. The company's...

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Accounting

Hart Company made 3,220 bookshelves using 22,220 board feet of wood costing $293,304. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.10 per board foot. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

(1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable

. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?

Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)
Actual Cost 0 0 Standard Cost
0
$0 0 $0
$0
$0

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