Bramble Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6.00 kg at $3.70 per kilogram) Direct labour (2.00 hours at $12.90 per hour) $22.20 $25.80 During the month of April, the company manufactures 340 units and incurs the following actual costs: Direct materials purchased and used (2,240 kg) Direct labour (650 hours) $8,736 $8,125 Calculate the total, price, and quantity variances for materials and labour. (Round intermediate calculations to 2 decimal places, e.g. 1.25 and final answer to O decimal places, e.g. 125.)
Bramble Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6.00 kg at $3.70 per kilogram) Direct labour (2.00 hours at $12.90 per hour) $22.20 $25.80 During the month of April, the company manufactures 340 units and incurs the following actual costs: Direct materials purchased and used (2,240 kg) Direct labour (650 hours) $8,736 $8,125 Calculate the total, price, and quantity variances for materials and labour. (Round intermediate calculations to 2 decimal places, e.g. 1.25 and final answer to O decimal places, e.g. 125.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Transcribed Image Text:Bramble Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product:
Direct materials (6.00 kg at $3.70 per kilogram)
Direct labour (2.00 hours at $12.90 per hour)
$22.20
Direct materials purchased and used (2,240 kg)
Direct labour (650 hours)
$25.80
During the month of April, the company manufactures 340 units and incurs the following actual costs:
$8,736
$8,125
Calculate the total, price, and quantity variances for materials and labour. (Round intermediate calculations to 2 decimal places, e.g. 1.25
and final answer to O decimal places, e.g. 125.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education