Actual results for 2022 are as follows: . . . 33,440 units of Product A were produced. Actual direct labor costs were $805,240 for 98,200 direct labor hours worked. Actual direct materials purchased and used during the year cost $379,500 for 138,000 pounds. Actual variable overhead incurred was $169,000 and actual fixed overhead incurred was $220,000. Compute the following variances showing all computations to support your answers. Indicate whether the variances unfavorable. Materials Quantity Variance Total Direct Labor Variance Direct Labor Quantity Variance $ $

Actual results for 2022 are as follows: . . . 33,440 units of Product A were produced. Actual direct labor costs were $805,240 for 98,200 direct labor hours worked. Actual direct materials purchased and used during the year cost $379,500 for 138,000 pounds. Actual variable overhead incurred was $169,000 and actual fixed overhead incurred was $220,000. Compute the following variances showing all computations to support your answers. Indicate whether the variances unfavorable. Materials Quantity Variance Total Direct Labor Variance Direct Labor Quantity Variance $ $

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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