The following information is provided The per-unit standards are 2 pounds at $5 per pound. Last month, 11,200 pounds of direct materials that actually cost $53,200 were used to produce 6,000 units of product. Direct Materials: The per-unit standards are 0.5 direct labor hours at $15 per hour. In producing 6,000 units, the actual direct labor cost was $46,500 for 3,000 direct labor hours worked. Direct Labour: Required: a. Compute the Materials Price Variance b. Compute the Materials Quantity Variance c. Compute the Labour Rate Variance d. Compute the Labour Quantity Variance

The following information is provided The per-unit standards are 2 pounds at $5 per pound. Last month, 11,200 pounds of direct materials that actually cost $53,200 were used to produce 6,000 units of product. Direct Materials: The per-unit standards are 0.5 direct labor hours at $15 per hour. In producing 6,000 units, the actual direct labor cost was $46,500 for 3,000 direct labor hours worked. Direct Labour: Required: a. Compute the Materials Price Variance b. Compute the Materials Quantity Variance c. Compute the Labour Rate Variance d. Compute the Labour Quantity Variance

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Description: **The following information is provided:****Direct Materials:**The per-unit standards are 2 pounds at $5 per pound. Last month, 11,200 pounds of direct materials that actually cost $53,200 were used to produce 6,000 units of product.**Direct Labour:

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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