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.
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter23: Performance Evaluation Using Variances From Standard Costs
Section: Chapter Questions
Problem 9DQ: If variances are recorded in the accounts at the time the manufacturing costs are incurred, what...
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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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