24. Controller Yang Zho is analyzing the direct material and direct labor variances for 2018. The following information comes from the accounting records $ 180,000 Direct Material Cost (for 600,000 pounds of material) Units used Direct Labor Costs (for 270,000 hours) Units Produced The standard prime cost for one bar is Direct Materials.5 pounds at $0.25 per pound Direct Labor.25 hours at $15 per hour Total standard prime cost per bar 550,000 pounds $ 3,780,000 $ $ $ 1,000,000 0.125 3.750 3.875 Required 1. Compute the appropriate direct material and direct labor variances (efficiency, quantity, and flexible budget).

24. Controller Yang Zho is analyzing the direct material and direct labor variances for 2018. The following information comes from the accounting records $ 180,000 Direct Material Cost (for 600,000 pounds of material) Units used Direct Labor Costs (for 270,000 hours) Units Produced The standard prime cost for one bar is Direct Materials.5 pounds at $0.25 per pound Direct Labor.25 hours at $15 per hour Total standard prime cost per bar 550,000 pounds $ 3,780,000 $ $ $ 1,000,000 0.125 3.750 3.875 Required 1. Compute the appropriate direct material and direct labor variances (efficiency, quantity, and flexible budget).

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Description: Please show as much working as possible. Thank you for your help. 24. Controller Yang Zho is analyzing the direct material and direct labor variances for 2018.The following information comes from the accounting records$Direct Material Cost(for 600,00

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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