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A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 42,100 pounds @ $7.10 per 16,400 hours @ $17.50 per $ 206, 200 8,300 units cise 23-9 (Algo) Direct materials variances LO P3 bute the (1) direct materials price variance and (2) direct materials quantity variance. Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Ro nal places.

A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 42,100 pounds @ $7.10 per 16,400 hours @ $17.50 per $ 206, 200 8,300 units cise 23-9 (Algo) Direct materials variances LO P3 bute the (1) direct materials price variance and (2) direct materials quantity variance. Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Ro nal places.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...
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A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured Exercise 23-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Results 42,100 pounds @ $7.10 per pound 16,400 hours @ $17.50 per hour $ 206, 200 8,300 units Actual Cost Standard Cost
Transcribed Image Text:A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured Exercise 23-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Results 42,100 pounds @ $7.10 per pound 16,400 hours @ $17.50 per hour $ 206, 200 8,300 units Actual Cost Standard Cost
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