The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are: Standard Costs: Direct materials -2,500 kilograms @ $8.50 Actual Costs: The following data relate to direct labor costs for the current period: Standard costs 36,000 hours at $22.00 Actual costs 35,000 hours at $23.00 What is the direct labor time variance? a. $36,000 unfavorable b. $35,000 unfavorable Direct materials -2,603 kilograms @ $8.75 c. $23,000 favorable The amount of the direct materials quantity d. $22,000 favorable variance is: a. $875 favorable variance. b. $850 unfavorable variance c. $850 favorable variance d. $875 unfavorable variance
The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are: Standard Costs: Direct materials -2,500 kilograms @ $8.50 Actual Costs: The following data relate to direct labor costs for the current period: Standard costs 36,000 hours at $22.00 Actual costs 35,000 hours at $23.00 What is the direct labor time variance? a. $36,000 unfavorable b. $35,000 unfavorable Direct materials -2,603 kilograms @ $8.75 c. $23,000 favorable The amount of the direct materials quantity d. $22,000 favorable variance is: a. $875 favorable variance. b. $850 unfavorable variance c. $850 favorable variance d. $875 unfavorable variance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please provide Solutions of two answers
Transcribed Image Text:The standard costs and actual costs for direct
materials for the manufacture of 2,500 actual
units of product are:
Standard Costs:
Direct materials -2,500 kilograms @ $8.50
Actual Costs:
The following data relate to direct labor costs for the current
period:
Standard costs 36,000 hours at $22.00
Actual costs
35,000 hours at $23.00
What is the direct labor time variance?
a. $36,000 unfavorable
b. $35,000 unfavorable
Direct materials -2,603 kilograms @ $8.75
c. $23,000 favorable
The amount of the direct materials quantity
d. $22,000 favorable
variance is:
a. $875 favorable variance.
b. $850 unfavorable variance
c. $850 favorable variance
d. $875 unfavorable variance
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education