Give true answer this accounting question Wheeler corporation produces and sell special eyeglass straps for sporting enthusiasts.In 2011, the company budgeted for production and sales of 1200 straps. However, thecompany produced and sold just 1100 straps. Each strap has a standard requiring onemetre of material at budgeted cost of 1.50 per metre and two hours of assembly timeat a cost of 12 dollar per hour. Actual costs for the production of 1100 items were1435.50 for materials (990 metres at 1.45 dollar per meter) and 29.161 dollar forlabour (2420 hours at 12.05 dollar per hour).a. Calculate the direct material price varianceb. Calculate the direct material usage variancec. Calculate the direct labour rate varianced. Calculate the direct labour efficiency variance

Step 1: Define Efficiency VarianceEfficiency variance refers to the disparity between expected and…

Answered: Wheeler corporation produces and sell…

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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