Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR-Standard Rate $ 75 42 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP- Standard Price $ 644,575 443,040 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.

Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR-Standard Rate $ 75 42 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP- Standard Price $ 644,575 443,040 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.

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Description: Please do not give solution in image format thanku Camila Company has set the following standard cost per unit for direct materials and direct laborDirect materials (15 pounds @ $5 per pound)Direct labor (3 hours @ $14 per hour)During June the compan

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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