Please do not give solution in image format thanku Sakelaris Corporation makes a product with the following standard costs:Standard Quantity orHoursDirect materials 8.6Direct labor 0.4Variableoverhead0.4Actual direct labor-hoursActual direct labor costStandard Price orRateActual variable overhead costkiloshourshours3,320The company reported the following results concerning this product in August.Actual outputRaw materials used in productionPurchases of raw materials8,400 units71,750 kilos76,900 kilosActual cost of raw materials purchases $469,090$ 35,524$ 17,928$6.00 per kilohours$per11.00 hour$5.00perhour The company applies variable overhead on the basis of direct labor-hours. The directmaterials purchases variance is computed when the materials are purchased.Required:Compute the materials quantity variance.Compute the materials price variance.Compute the labor efficiency variance.Compute the labor rate variance.

Name: Please do not give solution in image format thanku Sakelaris Corporati
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Please do not give solution in image format thanku Sakelaris Corporation makes a product with the following standard costs:Standard Quantity orHoursDirect materials 8.6Direct labor 0.4Variableoverhead0.4Actual direct labor-hoursActual direct labor co

Variance analysis is one of the important tool used in management accounting. Under it, all standard…

Business

Accounting

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. Required: Compute the materials quantity variance. . Compute the materials price variance. Compute the labor efficiency variance. Compute the labor rate variance.