elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours 2.5 ounces Standard Price or Rate $20.00 per ounce $22.50 per hour $ 3.50 per haur Standard Cost Direct materials $ 50.00 Direct labor 1.4 hours 31. 50 Variable manufacturing overhead Total standard cost per unit 1.4 hours 4.90 $ 86.40 During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 12,000 ounces at a cost of $225,000. b. There was no beginning inventory of materials; however, at the end of the month, 2,500 ounces of material remained in ending inventory. c. The company employs 35 lab technicians to work on the production of Fludex. During November, they each worked an average of 160 hours at an average pay rate of $22 per hour. d. Variable manufacturing overhesd is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $18,200. e. During November, the company produced 3,750 units of Fludex. Required: 1. For direct materials: a. Compute the price and quantity variances. b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract? 2. For direct labor: a. Compute the rate and efficiency variances. b. In the past, the 35 technicians employed in the production of Fludex consisted of 20 senior technicians and 15 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued? 3. Compute the variable overhead rate and efficiency variances.

raig Company uses two different types of labor to manufacture its product. The types of labor, Cutting and Setup, have the following standards:  Labor Type Standard Mix Standard Unit Price Standard Cost Cutting 300 hours $12.00 per unit $2,400 Setup 700 hours   10.00 per unit 6,400     Yield 4,000 units   ​ During September, the following actual production information was provided: Labor Type Actual Mix Cutting 7,000 hours Setup 5,000 hours     Yield 42,000 units   ​ Required:Calculate the labor mix and yield variances.

Subject: acounting

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours Standard Price or Rate 6.90 pounds $ 2.60 per pound 0.30 hours $ 7.00 per hour Standard Cost $ 17.94 $ 2.10 During the most recent month, the following activity was recorded: a. Nineteen thousand two hundred and fifity pounds of material were purchased at a cost of $2.40 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. c. 450 hours of direct labor time were recorded at a total labor cost of $4,500. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round…