8. Using the table below, calculate the labor efficiency variance: Standard - Planned Masks to Produce in January Standard Square Inches Per Cloth Mask Standard Price Per Square Inch Standard Direct Labor Hours Per Mask Standard Direct Labor Wage Per Hour Actual Purchased Square Inches of Cloth Actual Square Inches of Cloth Still in Inventory at End of Jan. Actual Price Per Square Inch Masks Produced in Jan. 8,000 masks 6 sq. inches $0.15 0.2 hours $17 30,000 sq. inches 5,000 sq. inches $0.14 6,000 masks Actual Direct Labor Hours Worked Actual Direct Labor Cost NSWER: $5,100U 1,500 hours $27,000 9. Using the table in Question 8 above, calculate the materials price variance. NSWER: $300F

8. Using the table below, calculate the labor efficiency variance: Standard - Planned Masks to Produce in January Standard Square Inches Per Cloth Mask Standard Price Per Square Inch Standard Direct Labor Hours Per Mask Standard Direct Labor Wage Per Hour Actual Purchased Square Inches of Cloth Actual Square Inches of Cloth Still in Inventory at End of Jan. Actual Price Per Square Inch Masks Produced in Jan. 8,000 masks 6 sq. inches $0.15 0.2 hours $17 30,000 sq. inches 5,000 sq. inches $0.14 6,000 masks Actual Direct Labor Hours Worked Actual Direct Labor Cost NSWER: $5,100U 1,500 hours $27,000 9. Using the table in Question 8 above, calculate the materials price variance. NSWER: $300F

Name: 8. Using the table below, calculate the labor efficiency variance: St
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Description: 8. Using the table below, calculate the labor efficiency variance: Standard hr-Planned Masks to Produce in JanuaryStandard Square Inches Per Cloth MaskStandard Price Per Square InchStandard Direct Labor Hours Per MaskStandard Direct Labor Wage Per H

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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