The following direct materials and direct labor data pertain to the operations of Blossom Company for the month of August.Actual labor rateActual materials priceStandard labor rateStandard materials priceCosts(a)Actual hours incurred and usedActual quantity of materials purchased and usedStandard hours usedStandard quantity of materials usedTotal materials varianceMaterials price variance.Total labor variance$12 per hour$100per ton$11.50per hour$101QuantitiesMaterials quantity varianceLabor price varianceLabor quantity varianceCompute the total, price, and quantity variances for materials and labor.$$$per ton$$3,500 hours1,000 tons3,540 hours990 tons>>

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Description: The following direct materials and direct labor data pertain to the operations of Blossom Company for the month of August.Actual labor rateActual materials priceStandard labor rateStandard materials priceCosts(a)Actual hours incurred and usedActual

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The following direct materials and direct labor data pertain to the operations of Blossom Company for the month of August. Actual labor rate Actual materials price Standard labor rate Standard materials price Costs (a) Actual hours incurred and used Total materials variance Materials price variance Total labor variance $12 $100 $11.50 $101 Quantities Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used Materials quantity variance Labor price variance Labor quantity variance $ Compute the total, price, and quantity variances for materials and labor. $ $ $ per hour $ per ton $ per hour per ton 3,500 hours 1,000 tons 3,540 hours 990 tons > <

The following direct materials and direct labor data pertain to the operations of Blossom Company for the month of August. Actual labor rate Actual materials price Standard labor rate Standard materials price Costs (a) Actual hours incurred and used Total materials variance Materials price variance Total labor variance $12 $100 $11.50 $101 Quantities Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used Materials quantity variance Labor price variance Labor quantity variance $ Compute the total, price, and quantity variances for materials and labor. $ $ $ per hour $ per ton $ per hour per ton 3,500 hours 1,000 tons 3,540 hours 990 tons > <

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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