es Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards f one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours 4.6 pounds 0.2 hours Materials price variance Materials quantity variance Standard Price or Rate $ 2.50 per pound $18.00 per hour During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. b. The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in rav materials inventory.) c. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Standard Cost $ 11.50 $ 3.60 Required: Compute the materials price and quantity variances for the month. (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.) $ 3,000 F EU

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Kildare Company manufactures 100-pound bags of mulch that have the following unit standard costs for direct materials and direct labor: Line Item Description Cost Direct materials (100 lbs. @ $0.40 per lb.) $40.00 Direct labor (0.5 hr. at $18.00 per hour)     9.00 Total standard prime cost per 100-lb. bag $49.00  The following activities were recorded for October: 2,000 bags were manufactured. 190,000 lbs. of materials costing $70,000 were purchased. 205,000 lbs. of materials were used. $19,000 was paid for 950 hours of direct labor. There were no beginning or ending work-in-process inventories.What is the labor efficiency variance for Kildare Company? a. $1,900 U b. $1,000 U c. $900 F d. $1,000 F

Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $4 per pound) Direct labor (4 hours @ $14 per hour) $ 56 56 During May the company incurred the following actual costs to produce 8,600 units. Direct materials (123,200 pounds @ $3.80 per pound) Direct labor (38,700 hours @ $14.10 per hour) AR Actual Rate SR Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price AH = Actual Hours SH Standard Hours $ 468,160 545,670 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost Standard Cost < Prev 8 of 8 Next

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:     Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 6.80 pounds $ 2.90 per pound $ 19.72 Direct labor 0.20 hours $ 9.00 per hour $ 1.80   During the most recent month, the following activity was recorded:   Fifteen thousand one hundred pounds of material were purchased at a cost of $2.60 per pound. All of the material purchased was used to produce 2,000 units of Zoom. 300 hours of direct labor time were recorded at a total labor cost of $3,300.   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…

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: Standard Standard Price or Rate $2.90 per pound $9.00 per hour Quantity or Standard Hours Cost Direct materials 6.80 pounds $19.72 Direct labor 0.20 hours $ 1.80 During the most recent month, the following activity was recorded: a. Fifteen thousand one hundred pounds of material were purchased at a cost of $2.60 per pound. b. All of the material purchased was used to produce 2,000 units of Zoom. c. 300 hours of direct labor time were recorded at a total labor cost of $3,300. 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 your…

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Chulak Company uses a standard costing system. The following data are available for the month: Actual quantity of direct materials purchased 25,000 pounds Standard price of direct materials $2 per pound Material price variance $2,500 unfavorable The actual price per pound of direct materials purchased during the month is

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…