The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct materials Standard quantity and rate per unit for direct labor AR = Actual Rate SR Standard Rate AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. 17,400 pounds at $4.75 per pound 18,035 hours at $33 per hour 32,800 0.50 pound at $4.70 per pound 0.50 hour at $34 per hour

The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct materials Standard quantity and rate per unit for direct labor AR = Actual Rate SR Standard Rate AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP=Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. 17,400 pounds at $4.75 per pound 18,035 hours at $33 per hour 32,800 0.50 pound at $4.70 per pound 0.50 hour at $34 per hour

Name: Exercise 21-15 (Algo) Direct materials and direct labor variances LO
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Description: Exercise 21-15 (Algo) Direct materials and direct labor variances LO P3The following information relates to production activities of Mercer Manufacturing for the year.Actual direct materials usedActual direct labor usedActual units producedStandard

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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The following data relate to a product manufactured by Kent Corporation: Direct material standard: 3.5 square feet at $2.50 per square foot Direct material purchased & used: 33,000 square feet at $2.60 per square foot Manufacturing activity: 9,600 units completed SHOW ALL COMPUTATIONS Compute price variance, quantity variance, direct material variance.
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