3. Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $0.90 Actual quanity purchased and used in production 100 Standard quantity for units produced 110 Actual labor rate per hour $15 Standard labor rate per hour $14 Actual hours 200 Standard hours for units produced 220 NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. Complete the following table of variances and their conditions: Complete the following table of variances and their conditions: Complete the following table of variances and their conditions: Variance Variance Amount Favorable (F) or Unfavorable (U) Material Price ? ? Material Quantity ? ? Total DM Cost Variance ? ? Labor Rate ? ? Labor Efficiency ? ? Total DL Cost Variance ? ?
3. Acme Inc. has the following information available:
Actual price paid for material $1.00
Standard price for material $0.90
Actual quanity purchased and used in production 100
Standard quantity for units produced 110
Actual labor rate per hour $15 Standard labor rate per hour $14
Actual hours 200
Standard hours for units produced 220
NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes.
Complete the following table of variances and their conditions:
Complete the following table of variances and their conditions:
Complete the following table of variances and their conditions:
| Variance | Variance Amount | Favorable (F) or Unfavorable (U) |
|
Material Price |
? |
? |
|
Material Quantity |
? |
? |
|
Total DM Cost Variance |
? |
? |
|
Labor Rate |
? |
? |
|
Labor Efficiency |
? |
? |
|
Total DL Cost Variance |
? |
? |
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