<> <. <. Marigold Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) $12 Direct labor (2 hours at $12 per hour) $24 During the month of April, the company manufactures 380 units and incurs the following actual costs. Direct materials purchased and used (2,410 pounds) %245,302 Direct labor (780 hours) 58,970 Compute the total, price, and quantity variances for materials and labor. Identifywhethereach variance is favorable or unfavorable. Materials Labor Variance Price Variance Quantity Variance e Textbook and Media Attempts: 0 of 3 used Submit Anawer
<> <. <. Marigold Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) $12 Direct labor (2 hours at $12 per hour) $24 During the month of April, the company manufactures 380 units and incurs the following actual costs. Direct materials purchased and used (2,410 pounds) %245,302 Direct labor (780 hours) 58,970 Compute the total, price, and quantity variances for materials and labor. Identifywhethereach variance is favorable or unfavorable. Materials Labor Variance Price Variance Quantity Variance e Textbook and Media Attempts: 0 of 3 used Submit Anawer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Unit VIII question 7
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Marigold Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (6 pounds at $2 per pound)
$12
Direct labor (2 hours at $12 per hour)
$24
During the month of April, the company manufactures 380 units and incurs the following actual costs.
Direct materials purchased and used (2,410 pounds)
%245,302
Direct labor (780 hours)
58,970
Compute the total, price, and quantity variances for materials and labor. Identifywhethereach variance is favorable or unfavorable.
Materials
Labor
Variance
Price
Variance
Quantity
Variance
e Textbook and Media
Attempts: 0 of 3 used
Submit Anawer
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