A6 Nolan Mills uses a standard cost system. During May, Nolan manufactured 15,000 pillowcases, using 28,000 yards of fabric costing$3.05 per yard and incurring direct labor costs of $17,766 for 3,290 hours of direct labor. The standard cost per pillowcaseassumes 1.75 yards of fabric at $3.10 per yard, and 0.20 hours of direct labor at $5.95 per hour.Required:a. Compute both the price variance and quantity variance relating to direct materials used in the manufacture of pillowcases inMay.b. Compute both the rate variance and efficiency variance for direct labor costs incurred in manufacturing pillowcases in May.Note: For all requirements, Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None"and enter "O" for no effect (i.e., zero variance). Do not round your intermediate values. Round your answers to 2 decimalplaces.a. Materials price variancea. Materials quantity varianceb. Labor rate varianceb. Labor efficiency variance

Name: A6 Nolan Mills uses a standard cost system. During May, Nolan manufact
Uploaded: 2024-03-20T06:33:06.000Z
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Description: A6 Nolan Mills uses a standard cost system. During May, Nolan manufactured 15,000 pillowcases, using 28,000 yards of fabric costing$3.05 per yard and incurring direct labor costs of $17,766 for 3,290 hours of direct labor. The standard cost per pillo

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05 per yard and incurring direct labor costs of $17,766 for 3,290 hours of d umes 1.75 yards of fabric at $3.10 per yard, and 0.20 hours of direct labor a quired: Compute both the price variance and quantity variance relating to direct m May. Compute both the rate variance and efficiency variance for direct labor cos Note: For all requirements, Indicate the effect of each variance by select and enter "O" for no effect (i.e., zero variance). Do not round your interm places