A company makes wine glasses for which the following standards have Standard Price Expected Per Unit of Input $2 per ounce $8 per hour Production of 400 glasses was expected in July, but 440 were actually made. Direct materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce. Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00. been developed: Direct Materials Direct Labor Standard Inputs Expected For Each Unit of Output 5 ounces 1.5 hours Calculate: a) The direct materials variances b) The direct labor variances
A company makes wine glasses for which the following standards have Standard Price Expected Per Unit of Input $2 per ounce $8 per hour Production of 400 glasses was expected in July, but 440 were actually made. Direct materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce. Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00. been developed: Direct Materials Direct Labor Standard Inputs Expected For Each Unit of Output 5 ounces 1.5 hours Calculate: a) The direct materials variances b) The direct labor variances
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![A company makes wine glasses for which the following standards have
Standard Price Expected
Per Unit of Input
$2 per ounce
$8 per hour
Production of 400 glasses was expected in July, but 440 were actually made. Direct
materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce.
Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00.
been developed:
Direct Materials
Direct Labor
Standard Inputs Expected
For Each Unit of Output
5 ounces
1.5 hours
Calculate:
a) The direct materials variances
b) The direct labor variances](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fff381d0d-8708-4728-97d5-9a94698ad98b%2F9c3bf81d-8a95-4682-95c8-ca2593987d96%2Fjp8ww7q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company makes wine glasses for which the following standards have
Standard Price Expected
Per Unit of Input
$2 per ounce
$8 per hour
Production of 400 glasses was expected in July, but 440 were actually made. Direct
materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce.
Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00.
been developed:
Direct Materials
Direct Labor
Standard Inputs Expected
For Each Unit of Output
5 ounces
1.5 hours
Calculate:
a) The direct materials variances
b) The direct labor variances
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