Seacoast Company provided the following information about its standard costing system for 2019: Materials Labor Budgeted production Standard Data 10 lbs. @ $4 per lbs. 3 hrs. @ $21 per hr. 3,500 units Produced Materials purchased Materials used Labor worded Actual Data 4,000 units 50,000 lbs. for $215,000 41,000 lbs. 11,000 hrs. costing $220,000 Calculate the price, quantity and total variances for labor and materials. Format your answers using $, commas, and zero decimal places. Also indicate for each variance "F" for favorable or "U" for unfavorable.

Seacoast Company provided the following information about its standard costing system for 2019: Materials Labor Budgeted production Standard Data 10 lbs. @ $4 per lbs. 3 hrs. @ $21 per hr. 3,500 units Produced Materials purchased Materials used Labor worded Actual Data 4,000 units 50,000 lbs. for $215,000 41,000 lbs. 11,000 hrs. costing $220,000 Calculate the price, quantity and total variances for labor and materials. Format your answers using $, commas, and zero decimal places. Also indicate for each variance "F" for favorable or "U" for unfavorable.

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Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...

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PLEASE SHOW YOUR SOLUTION PO. THANKS #27
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