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 @ $8 per pound 2 DLH @ $16 per DLH 2 DLH @ $12 per DLH Actual Results 48,500 pounds @ $8.10 per pound 15,700 hours @ $16.50 per hour 8,000 units $ 198,000 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (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 $ $ 0 0 $ 0 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 @ $8 per pound 2 DLH @ $16 per DLH 2 DLH @ $12 per DLH Actual Results 48,500 pounds @ $8.10 per pound 15,700 hours @ $16.50 per hour 8,000 units $ 198,000 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (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 $ $ 0 0 $ 0 Standard Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Urmilaben
![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 @ $8 per pound
2 DLH @ $16 per DLH
2 DLH @ $12 per DLH
Actual Results
48,500 pounds @ $8.10 per pound
15,700 hours @ $16.50 per hour
8,000 units
$ 198,000
Compute the (1) direct materials price variance and (2) direct materials quantity variance. (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
$
$
0
0
$
0
Standard Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3add3cd-80c2-4339-8c86-f4834124b8e3%2F99dd1018-bbf9-4c57-b26d-cc56563bbf26%2F85dkics_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 @ $8 per pound
2 DLH @ $16 per DLH
2 DLH @ $12 per DLH
Actual Results
48,500 pounds @ $8.10 per pound
15,700 hours @ $16.50 per hour
8,000 units
$ 198,000
Compute the (1) direct materials price variance and (2) direct materials quantity variance. (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
$
$
0
0
$
0
Standard Cost
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