Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials $ 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate Standard Labor Rate ՄՌ Դ Actual Hours Worked $ 15.50 $ 15.00 45 Standard Hours Worked 40 40 Calculate Materials Variances: Materials Price Variance Materials Quantity Variance Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance Amount Favorable/ Unfavorable

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...
Question
Actual Cost of Direct Materials
$
225,000
Standard Cost of Direct Materials
$
224,800
Actual Materials Used
30
Standard Materials Used
31
Actual Direct Labor Rate
Standard Labor Rate
ՄՌ Դ
Actual Hours Worked
$
15.50
$
15.00
45
Standard Hours Worked
40
40
Calculate Materials Variances:
Materials Price Variance
Materials Quantity Variance
Calculate Labor Variances:
Labor Rate Variance
Labor Efficiency Variance
Amount
Favorable/
Unfavorable
Transcribed Image Text:Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials $ 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate Standard Labor Rate ՄՌ Դ Actual Hours Worked $ 15.50 $ 15.00 45 Standard Hours Worked 40 40 Calculate Materials Variances: Materials Price Variance Materials Quantity Variance Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance Amount Favorable/ Unfavorable
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