Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) Direct labor (3 hours@ $15 per hour) During June the company incurred the following actual costs to produce 8,300 units. Direct materials (119,100 pounds @ $4.70 per pound) Direct labor (28,600 hours @ $15.20 per hour) AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price $ 70 45 $ 559,770 434,720

Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) Direct labor (3 hours@ $15 per hour) During June the company incurred the following actual costs to produce 8,300 units. Direct materials (119,100 pounds @ $4.70 per pound) Direct labor (28,600 hours @ $15.20 per hour) AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price $ 70 45 $ 559,770 434,720

Name: Compute the direct materials price and quantity variances.Note: Indic
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Description: Compute the direct materials price and quantity variances.Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.AQActual CostXXAP$0$AQ0XX Standard CostXXSP Camila Company has set

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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