12. Sur liquid Company produces a perfume called Zhim. The direct materials and direct labor standards for one bottle of Whim are given below: Standard Quantity or Standard Price or Rate Standard cost hours Direct materials 8.2 ounces $2.50 per ounce $ 20.50 Direct Labor 0.4 hour $9.00 per hour 3.60 During the most recent month, the following activity was recorded: a. Twenty thousand ounces of material were purchased at $2.40 per ounce. b. All of the material was used to produce 2,500 bottles of Zhim. c. Nine hundred hours of direct labor time were recorded at a total labor cost of $10,800. cost of Instructions: 1. Compute the direct materials price and quantity variances for the month. 2. Compute the direct labor rate and efficiency variances for the month.

12. Sur liquid Company produces a perfume called Zhim. The direct materials and direct labor standards for one bottle of Whim are given below: Standard Quantity or Standard Price or Rate Standard cost hours Direct materials 8.2 ounces $2.50 per ounce $ 20.50 Direct Labor 0.4 hour $9.00 per hour 3.60 During the most recent month, the following activity was recorded: a. Twenty thousand ounces of material were purchased at $2.40 per ounce. b. All of the material was used to produce 2,500 bottles of Zhim. c. Nine hundred hours of direct labor time were recorded at a total labor cost of $10,800. cost of Instructions: 1. Compute the direct materials price and quantity variances for the month. 2. Compute the direct labor rate and efficiency variances for the month.

Name: 12. Sur liquid Company produces a perfume called Zhim. The directmate
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Description: 12. Sur liquid Company produces a perfume called Zhim. The directmaterials and direct labor standards for one bottle of Whim aregiven below:Standard Quantity orStandard Price or Rate Standard costhoursDirect materials 8.2 ounces$2.50 per ounce$ 20.5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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