Actual purchase price Actual direct labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours Actual quantity used in October Direct labor rate variance $1.30 per b $6.50 per hour $1.10 per lb. 870,000 lbs 15,000 1,015,000 lbs. 7,000 900,000 lbs. $4,500 F equired: Calculate the total cost of purchases for October. otal Purchases Compute the direct materials price variance based on quantity purchased. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance Calculate the direct materials quantity variance based on quantity used. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) laterial Quantity Variance

Actual purchase price Actual direct labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours Actual quantity used in October Direct labor rate variance $1.30 per b $6.50 per hour $1.10 per lb. 870,000 lbs 15,000 1,015,000 lbs. 7,000 900,000 lbs. $4,500 F equired: Calculate the total cost of purchases for October. otal Purchases Compute the direct materials price variance based on quantity purchased. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance Calculate the direct materials quantity variance based on quantity used. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) laterial Quantity Variance

Name: Please help me with all answers I will give upvote thanku Amber Compan
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Please help me with all answers I will give upvote thanku Amber Company produces iron table and chair sets. During October, Amber's costs were as follows:Actual purchase priceActual direct labor rateStandard purchase priceStandard quantity for sets p

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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