Birect Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.8 Standard labor time per unit 20 min. Standard number of Ibs. of brass 2.1 lbs. Standard price per Ib. of brass $12 Actual price per Ib. of brass $12.25 Actual Ibs. of brass used during the week 17,520 Ibs. Number of units produced during the week 8,100 Actual wage per hour $17.3 Actual hours for the week (30 employees x 32 960 hrs. hours) Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit Dotormine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator3D&inprogress3false
Actuai nours ror the week (30 empioyees X 32
hours)
960 hrs.
Required:
a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.
Direct materials standard cost per unit
Direct labor standard cost per unit
Total standard cost per unit
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a
favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
<>
Direct Materials Price Variance
Direct Materials Quantity Variance
Total Direct Materials Cost Variance
c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as
a negative number using a minus sign and an unfavorable variance as a positive number.
Direct Labor Rate Variance
Direct Labor Time Variance
Total Direct Labor Cost Variance
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Transcribed Image Text:y! QCy! takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator3D&inprogress3false Actuai nours ror the week (30 empioyees X 32 hours) 960 hrs. Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. <> Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance Previous Next %24 %24 %24 %24 %24 %24 %24 %24 %24
Direct Materials and Direct Labor Variance Analysis
Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32
hours of labor per week. Information about a production week is as follows:
Standard wage per hour
$16.8
Standard labor time per unit
20 min.
Standard number of Ibs. of brass
2.1 Ibs.
Standard price per Ib. of brass
$12
Actual price per Ib. of brass
$12.25
Actual Ibs. of brass used during the week
17,520
Ibs.
Number of units produced during the week
8,100
Actual wage per hour
<>
$17.3
Actual hours for the week (30 employees x 32
960 hrs.
hours)
Required:
a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.
Direct materials standard cost per unit
Direct labor standard cost per unit
Total standard cost per unit
$
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a
10:36 PM
%24
%24
%24
Transcribed Image Text:Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.8 Standard labor time per unit 20 min. Standard number of Ibs. of brass 2.1 Ibs. Standard price per Ib. of brass $12 Actual price per Ib. of brass $12.25 Actual Ibs. of brass used during the week 17,520 Ibs. Number of units produced during the week 8,100 Actual wage per hour <> $17.3 Actual hours for the week (30 employees x 32 960 hrs. hours) Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit $ b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a 10:36 PM %24 %24 %24
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