ring May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trad ormation from the Stylex production department also pertains to May. Direct material purchased: 18,600 yards at $1.44 per yard Direct material used: 10,100 yards at $1.44 per yard Direct labor: 2,700 hours at $9.21 per hour he standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.41 per yard Direct labor: 4 hours at $9.00 per hour Total standard prime cost per unit of output $28.20 36.00 $64.20 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance $ 26,784 14,544 24,867 Required: Compute the following variances for the month of May. (Indicate the effect of each variance by selecting Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).

ring May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trad ormation from the Stylex production department also pertains to May. Direct material purchased: 18,600 yards at $1.44 per yard Direct material used: 10,100 yards at $1.44 per yard Direct labor: 2,700 hours at $9.21 per hour he standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.41 per yard Direct labor: 4 hours at $9.00 per hour Total standard prime cost per unit of output $28.20 36.00 $64.20 1. Direct-material price variance 2. Direct-material quantity variance 3. Direct-material purchase price variance $ 26,784 14,544 24,867 Required: Compute the following variances for the month of May. (Indicate the effect of each variance by selecting Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).

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Description: ring May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trade name Stylex. The followingormation from the Stylex production department also pertains to May.Direct material purchased: 18,600 yards at $1.44

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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