Ravena Labs., Inc. makes a single product which has the following standards: Direct materials 2.5 ounces at $18 per ounce Direct labor 1.4 hours at $11.50 per hour • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • The ending direct materials inventory was 2,000 ounces. • Direct materials purchased: 12,000 ounces for $225,000. • Direct labor hours worked: 5,600 hours at a cost of $67,200. A.The direct materials price variance for October is: B.The direct materials quantity variance for October is: C. The direct labor rate variance for October is: D. The direct labor efficiency variance for October is:
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials 2.5 ounces at $18 per ounce Direct labor 1.4 hours at $11.50 per hour • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • The ending direct materials inventory was 2,000 ounces. • Direct materials purchased: 12,000 ounces for $225,000. • Direct labor hours worked: 5,600 hours at a cost of $67,200. A.The direct materials price variance for October is: B.The direct materials quantity variance for October is: C. The direct labor rate variance for October is: D. The direct labor efficiency variance for October is:
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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2.Ravena Labs., Inc. makes a single product which has the following standards: Direct materials 2.5 ounces at $18 per ounce Direct labor 1.4 hours at $11.50 per hour • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • The ending direct materials inventory was 2,000 ounces. • Direct materials purchased: 12,000 ounces for $225,000. • Direct labor hours worked: 5,600 hours at a cost of $67,200.
A.The direct materials price variance for October is:
B.The direct materials quantity variance for October is:
C. The direct labor rate variance for October is:
D. The direct labor efficiency variance for October is:
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