Please do not give solution in image format thanku TaskMaster Enterprises employs a standard costsystem in which direct materials inventory is carriedat standard cost. TaskMaster has established thefollowing standards for the prime costs of one unitof product.DirectMaterialsDirectLaborO $14.250O $14.400StandardQuantityO $16,0008 poundsO $17,1000.25 hourStandard StandardPriceCost$ per1.80 pound$ per8.00 hour$14.40During November, TaskMaster purchased 160,000pounds of direct materials at a total cost of$304,000. The total factory wages for Novemberwere $42,000, 90% of which were for direct labor.Task Master manufactured 19,000 units of productduring November using 142,500 pounds of directmaterials and 5,000 direct labor-hours.2.00What is the direct materials efficiency variance forNovember?$ 16.40D

Lets understand the basics.Direct materials efficiency variance is a variance between the quantity…

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Direct Materials Direct Labor Standard Standard Standard Quantity Price Cost 8 pounds 0.25 hour $ per 1.80 pound $ per 8.00 hour $ 14.40 2.00 $ 16.40

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Direct Materials Direct Labor Standard Standard Standard Quantity Price Cost 8 pounds 0.25 hour $ per 1.80 pound $ per 8.00 hour $ 14.40 2.00 $ 16.40

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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