Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards, Standard Quantity Standard Price or Rate 15.00 pounds 1.20 hour $2.00 per pound $6.00 per hour Direct material Direct labor Total Standard Cost $30.00 7.20 $37.20 During June, Orion purchased 425,000 pounds of direct material at a total cost of $935,000. The total wages for June were $226,368, 75 percent of which were for direct labor. Orion manufactured 27,000 dartboards during June, using 394,200 pounds of the direct material purchased in June and 35,370 direct-labor hours. Required: Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (.e., zero variance).) 1. Direct-material price variance 2 Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance

Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards, Standard Quantity Standard Price or Rate 15.00 pounds 1.20 hour $2.00 per pound $6.00 per hour Direct material Direct labor Total Standard Cost $30.00 7.20 $37.20 During June, Orion purchased 425,000 pounds of direct material at a total cost of $935,000. The total wages for June were $226,368, 75 percent of which were for direct labor. Orion manufactured 27,000 dartboards during June, using 394,200 pounds of the direct material purchased in June and 35,370 direct-labor hours. Required: Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (.e., zero variance).) 1. Direct-material price variance 2 Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency variance

Name: Solve all questions otherwise leave this question Problem 10-39 Direct
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Solve all questions otherwise leave this question Problem 10-39 Direct-Material and Direct-Labor Variances (LO 10-1, 10-3)Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards.Stand

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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