The following data for the Lewgrow Garden Supplies Company pertains to the production of 2,500 garden spades during March. The spade consists of a wooden handle and a metal forged tool that comes in contact with the ground. Direct Materials (all materials purchased were used): Standard cost: $1.00 per handle and S3.50 per metal tool. Total Actual cost: S11,350 Materials flexible-budget efficiency variance was $650 unfavorable Direct Manufacturing Labor: Standard cost is 5 garden spades per hour at $20.00 per hour Actual cost per hour was $21.00 Labor efficiency variance was $400 favorable. Required: What is the standard direct material amount per garden spade? What is the standard material cost allowed for all units produced? What is the total direct materials flexible-budget variance? What is the direct material price variance? What is the total actual cost of direct manufacturing labor? What is the labor price variance for direct manufacturing label?

The following data for the Lewgrow Garden Supplies Company pertains to the production of 2,500 garden spades during March. The spade consists of a wooden handle and a metal forged tool that comes in contact with the ground. Direct Materials (all materials purchased were used): Standard cost: $1.00 per handle and S3.50 per metal tool. Total Actual cost: S11,350 Materials flexible-budget efficiency variance was $650 unfavorable Direct Manufacturing Labor: Standard cost is 5 garden spades per hour at $20.00 per hour Actual cost per hour was $21.00 Labor efficiency variance was $400 favorable. Required: What is the standard direct material amount per garden spade? What is the standard material cost allowed for all units produced? What is the total direct materials flexible-budget variance? What is the direct material price variance? What is the total actual cost of direct manufacturing labor? What is the labor price variance for direct manufacturing label?

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Description: The following data for the Lewgrow Garden Supplies Company pertains to the production of2,500 garden spades during March. The spade consists of a wooden handle and a metal forged tool thatcomes in contact with the ground.Direct Materials (all materi

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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