At the beginning of April, Winslow Toy Company budgeted 10,000 toy action figures to be manufactured in April at standard directmaterials and direct labor costs as follows:Direct materialsDirect laborTotal$15,0007,200$22,200The standard materials price is $0.50 per pound. The standard direct labor rate is $12.00 per hour. At the end of April, the actual directmaterials and direct labor costs were as follows:Actual direct materialsActual direct laborTotal$13,9006,700$20,600There were no direct materials price or direct labor rate variances for April. In addition, assume no changes in the direct materialsinventory balances in April. Winslow Toy Company actually produced 9,000 units during April.Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal placesand round your answers to the nearest dollar, if required. Enter a favorable variance as a negative number using a minus sign andan unfavorable variance as a positive number.Direct materials quantity varianceDirect labor time variancexUnfavorablexUnfavorable

Direct Materials Quantity Variance = (direct material / company budgeted *actually produced )-…

Answered: At the beginning of April, Winslow Toy…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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