A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH@ $16 per DLH 3 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 47,800 pounds @ $7.20 per pound 23,500 hours@ $16.60 per hour $ 290,500 7,900 units
A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH@ $16 per DLH 3 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 47,800 pounds @ $7.20 per pound 23,500 hours@ $16.60 per hour $ 290,500 7,900 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds@ $7 per pound
3 DLH@ $16 per DLH
3 DLH@ $12 per DLH
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
Actual Results
47,800 pounds@ $7.20 per pound
23,500 hours@ $16.60 per hour
$ 290,500
7,900 units
Check my w
Compute 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. Round "Cost per unit" answers to 2 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a7c8996-9db7-43b9-981a-42bf2189f9e1%2Fcd649e7d-6b39-4bbf-a021-d404d906210d%2F3xuc5qh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds@ $7 per pound
3 DLH@ $16 per DLH
3 DLH@ $12 per DLH
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
Actual Results
47,800 pounds@ $7.20 per pound
23,500 hours@ $16.60 per hour
$ 290,500
7,900 units
Check my w
Compute 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. Round "Cost per unit" answers to 2 decimal places.)
Transcribed Image Text:Required information
AP= Actual Price
SP = Standard Price
Actual Cost
0
$
0
0
$
0
Standard Cost,
me
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