Longman, Ic., manufactures lead crystal glasses. Longman, Inc.'s managers recently calculated the following: Variances after completing production of 6,800 glasses: Direct materials cost variance $1,496 F Direct labor cost variance $6,120 F Direct materials efficiency variance $680 U Direct labor efficiency variance $8,840 U Read the requirements. Requirement 1. For each variance, who in Longman, Inc.'s organization is most likely responsible? Direct materials cost variance Direct materials efficiency variance - X Requirements Direct labor cost variance Direct labor efficiency variance 1. For each variance, who in Longman, Inc.'s organization is most likely responsible? 2. Interpret the direct materials and direct labor variances for Longman, Inc.'s management. Print Done

Longman, Ic., manufactures lead crystal glasses. Longman, Inc.'s managers recently calculated the following: Variances after completing production of 6,800 glasses: Direct materials cost variance $1,496 F Direct labor cost variance $6,120 F Direct materials efficiency variance $680 U Direct labor efficiency variance $8,840 U Read the requirements. Requirement 1. For each variance, who in Longman, Inc.'s organization is most likely responsible? Direct materials cost variance Direct materials efficiency variance - X Requirements Direct labor cost variance Direct labor efficiency variance 1. For each variance, who in Longman, Inc.'s organization is most likely responsible? 2. Interpret the direct materials and direct labor variances for Longman, Inc.'s management. Print Done

Name: **Longman, Inc. Variance Analysis**Longman, Inc., a manufacturer spec
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Description: **Longman, Inc. Variance Analysis**Longman, Inc., a manufacturer specializing in lead crystal glasses, recently conducted a variance analysis concerning the production of 6,800 glasses. The key variances identified are as follows:- **Direct Material

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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