90.2K
Verified Solution
Link Copied!
Materials and Labor Variances The following actual and standard cost data for direct materials and
direct labor relate to Hadley Companys production of 2,000 units of a product
Actual costs Standard costs
Direct materials................................. 3,900 lb. @ $5.20 4,000 lb. @ $5.10
Direct labor .................................... 6,200 hr. @ $8.40 6,000 hr. @ $8.60
Determine the following variances:
a. Materials price c. Labor rate
b. Materials efficiency d. Labor efficiency
Answer & Explanation
Solved by verified expert
