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Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR-Standard Rate $ 75 42 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP- Standard Price $ 644,575 443,040 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.

Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR-Standard Rate $ 75 42 AQ-Actual Quantity SQ-Standard Quantity AP Actual Price SP- Standard Price $ 644,575 443,040 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR Standard Rate AQ-Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. $75 42 Complete this question by entering your answers in the tabs below. $ Required 1 Required 2 Compute the direct materials price and quantity variances, (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance) Actual Cost Standard Cont 0 $ 644,575 443,040 $ 0 0 $ 0 Required 2 >
Transcribed Image Text:Camila Company has set the following standard cost per unit for direct materials and direct labor Direct materials (15 pounds @ $5 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,900 units. Direct materials (135, 700 pounds @ $4.75 per pound) Direct labor (31,200 hours @ $14.20 per hour) AR Actual Rate SR Standard Rate AQ-Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. $75 42 Complete this question by entering your answers in the tabs below. $ Required 1 Required 2 Compute the direct materials price and quantity variances, (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance) Actual Cost Standard Cont 0 $ 644,575 443,040 $ 0 0 $ 0 Required 2 >
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