Please do not give solution in image format thanku A manufactured product has the following information for June.Standard Quantity and Cost7 pounds @ $8 per pound3 DLH @ $17 per DLH3 DLH@ $13 per DLHDirect materials,Direct laborOverheadUnits manufacturedActual Results57,300 pounds @ $8.10 per pound24,000 hours@ $17.50 per hour.$ 322,0008,100 unitsCompute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance byselecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.)AQ Actual QuantitySQ Standard QuantityAP Actual Price:SP Standard Price Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance byselecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.)AQ = Actual QuantitySQ = Standard QuantityAP Actual PriceSP Standard PriceActual CostAH Actual HoursSH= Standard HoursAR Actual RateSR Standard Rate$Actual Cost0$+$Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selectingfavorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)00of$$oof0$Standard Cost0+Standard Cost

Name: Please do not give solution in image format thanku A manufactured prod
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Description: Please do not give solution in image format thanku A manufactured product has the following information for June.Standard Quantity and Cost7 pounds @ $8 per pound3 DLH @ $17 per DLH3 DLH@ $13 per DLHDirect materials,Direct laborOverheadUnits manufact

The variance is the difference between the standard and actual cost data. The variance can be…

Business

Accounting

A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds@ $8 per pound 3 DLH@ $17 per DLH 3 DLH@ $13 per DLH Direct materials, Direct labor Overhead Units manufactured Actual Results 57,300 pounds @ $8.10 per pound 24,000 hours@ $17.50 per hour $ 322,000 8,100 units 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.) AQ=Actual Quantity SQ=Standard Quantity stal Drie

A manufactured product has the following information for June. Standard Quantity and Cost 7 pounds@ $8 per pound 3 DLH@ $17 per DLH 3 DLH@ $13 per DLH Direct materials, Direct labor Overhead Units manufactured Actual Results 57,300 pounds @ $8.10 per pound 24,000 hours@ $17.50 per hour $ 322,000 8,100 units 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.) AQ=Actual Quantity SQ=Standard Quantity stal Drie

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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