! Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 50,300 pounds @ $7.10 per pound 24,700 hours @ $16.50 per hour $ 305,200 8,300 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost
! Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 50,300 pounds @ $7.10 per pound 24,700 hours @ $16.50 per hour $ 305,200 8,300 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Actual Cost Standard Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Domestic
![!
Required information
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds @ $7 per pound
3 DLH @ $16 per DLH
3 DLH @ $12 per DLH
Actual Results
50,300 pounds @ $7.10 per pound
24,700 hours @ $16.50 per hour
$ 305,200
8,300 units
Compute the
(1) direct materials price variance and
(2) direct materials quantity variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2
decimal places.
AQ Actual Quantity
SQ Standard Quantity
AP Actual Price
SP
Standard Price
Actual Cost
Standard Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2966e8b-a9a3-4831-bd9f-e85f009a03f6%2F35cdbf52-1527-48c5-b327-819f25056f71%2Fg46z2br_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds @ $7 per pound
3 DLH @ $16 per DLH
3 DLH @ $12 per DLH
Actual Results
50,300 pounds @ $7.10 per pound
24,700 hours @ $16.50 per hour
$ 305,200
8,300 units
Compute the
(1) direct materials price variance and
(2) direct materials quantity variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2
decimal places.
AQ Actual Quantity
SQ Standard Quantity
AP Actual Price
SP
Standard Price
Actual Cost
Standard Cost
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