Please do not give solution in image format thanku Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct la CLIunit of Zoom are given belowDirect materialsDirect laborStandardQuantity orHour's7.00 pounds0.40 hoursMaterials price vananceMaterials quantity varianceStandard Price or Rate Standard Cost$ 3.00 per poundi$ 21.00$14.00 per hour$5.60During the most recent month, the following activity was recordeda Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 per poundb. The company produced only 1,360 units, using 12.240 pounds of material (The rest of the material purchased remained in rawmaterials inventoryc. 644 hours of direct labor time were recorded at a total labor cost of $7.728Required:Compute the materials price and quantity variances for the month (Indicate the effect of each verlence by selecting "F" forfavorable. "U" for unfavorable, and "None" for no effect (Le., zero variance). Input all amounts as positive values.)

Name: Please do not give solution in image format thanku Huron Company produ
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Description: Please do not give solution in image format thanku Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct la CLIunit of Zoom are given belowDirect materialsDirect laborStandardQuantity orHour's7.00 pounds

Standard costs are estimates of the actual costs in a company’s production process Then, the…

Business

Accounting

Required: Compute the materials price and quantity variances for the month (Indicate the effect of each verlience by selecting "" for favoreble, "U" for unfavorable, and "None" for no effect (Le., zero verlence). Input all amounts es positive values.) Matenais price variance Materials quantity variance

Required: Compute the materials price and quantity variances for the month (Indicate the effect of each verlience by selecting "" for favoreble, "U" for unfavorable, and "None" for no effect (Le., zero verlence). Input all amounts es positive values.) Matenais price variance Materials quantity variance

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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