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Use the data given below. Standard Actual Rate $12 $12.25 Hours 18,500 17,955 9,450 Units of production Calculate the direct labor rate variance of the above information. A. $4,488.75 Unfavorable B. $6,851.25 Favorable C. $4,488.75 Favorable D. $6,851.25 Unfavorable The following data relate to the direct materials cost for the production of 2,300 automobile tires: Actual: 62,600 lbs. at $1.75 $109,550 Standard: 61,300 lbs. at $1.8 $110,340 Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.

Use the data given below. Standard Actual Rate $12 $12.25 Hours 18,500 17,955 9,450 Units of production Calculate the direct labor rate variance of the above information. A. $4,488.75 Unfavorable B. $6,851.25 Favorable C. $4,488.75 Favorable D. $6,851.25 Unfavorable The following data relate to the direct materials cost for the production of 2,300 automobile tires: Actual: 62,600 lbs. at $1.75 $109,550 Standard: 61,300 lbs. at $1.8 $110,340 Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.

FINANCIAL ACCOUNTING
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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Use the data given below. Standard Actual Rate $12 $12.25 Hours 18,500 17,955 9,450 Units of production Calculate the direct labor rate variance of the above information. A. $4,488.75 Unfavorable B. $6,851.25 Favorable C. $4,488.75 Favorable D. $6,851.25 Unfavorable The following data relate to the direct materials cost for the production of 2,300 automobile tires: Actual: 62,600 lbs. at $1.75 $109,550 Standard: 61,300 lbs. at $1.8 $110,340 Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
Transcribed Image Text:Use the data given below. Standard Actual Rate $12 $12.25 Hours 18,500 17,955 9,450 Units of production Calculate the direct labor rate variance of the above information. A. $4,488.75 Unfavorable B. $6,851.25 Favorable C. $4,488.75 Favorable D. $6,851.25 Unfavorable The following data relate to the direct materials cost for the production of 2,300 automobile tires: Actual: 62,600 lbs. at $1.75 $109,550 Standard: 61,300 lbs. at $1.8 $110,340 Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
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