The Comet Company's budget contains these standards formaterials and direct labor for a unit: Material 5 lbs. @ $1per lb. = $5
Labor 2 hrs. @ $5 per hr. = $10
Although 2,500 units were budgeted, 3,000 wereactually produced. Materials weighing 16,000 lbs. werepurchased for $18,400. Materials weighing 15,500 lbs. were issuedto production. Direct Labor costs were $33,075 for 6,750 hrs.
A.) What's the materials price variance?
B.) What's the materials quantity variance?
C.) What's the total material variance?
D.) What's the labor rate variance?
E.) What's the labor efficiency variance?
F.) What was the total labor variance?
Thanks! :)
