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 $ 3.00 per pound $12.00 per hour Quantity or Standard Hours Cost 6.60 pounds 0.40 hours Direct materials $19.80 Direct labor $ 4.80 During the most recent month, the following activity was recorded: a. Twelve thousand eight hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,280 units, using 11,520 pounds of material. (The rest of the material purchased remained in raw materials inventory.) C. 612 hours of direct labor time were recorded at a total labor cost of $7,344. 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. Do not round intermediate calculationsI

At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products: Direct materials (5 lbs. @ $4.00) $20.00 Direct labor (2 hrs. @ $15.00) 30.00 Standard prime cost per unit $50.00 The actual results for the year are as follows: Units produced: 440,000. Materials purchased: 3,080,000 pounds @ $5.60. Materials used: 2,640,000 pounds. Direct labor: 968,000 hours @ $14.16. Required: 1.  Compute price and usage variances for materials. Enter amounts as positive numbers and select Favorable or Unfavorable. Material price variance $fill in the blank 1   Material usage variance $fill in the blank 3   2.  Compute the labor rate and labor efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable. Labor rate variance $fill in the blank 5   Labor efficiency variance $fill in the blank 7

Denger

Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity $138,000 Number of setups 10,200 Number of orders 92,400 Machine hours 18,480 Receiving hours phones with the following expected activity demands: Setting up equipment Ordering materials Machining Receiving Silven produces two models of cell Model X 5,000 80 200 6,600 385 Units completed Number of setups Number of orders Machine hours Receiving hours Required: Model Y 10,000 40 400 4,950 770 120 600 11,550 1,155

A company produces a 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 5.70 pounds $ 2.50 per pound $ 14.25 Direct labor 0.50 hours $ 7.50 per hour $ 3.75 During the most recent month, the following activity was recorded: Eleven thousand pounds of material were purchased at a cost of $2.40 per pound. The company produced only 1,100 units, using 9,900 pounds of material. (The rest of the material purchased remained in raw materials inventory.) 650 hours of direct labor time were recorded at a total labor cost of $7,800. Required: Compute the materials price and quantity variances for the month.

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Sagar

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 7.90 pounds $ 2.10 per pound $ 16.59 Direct labor 0.50 hours $ 5.00 per hour $ 2.50   During the most recent month, the following activity was recorded:   Fourteen thousand eight hundred and fifity pounds of material were purchased at a cost of $2.00 per pound. All of the material purchased was used to produce 1,500 units of Zoom. 600 hours of direct labor time were recorded at a total labor cost of $4,200.   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).

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 7.80 pounds 0.30 hours Standard Price or Rate $ 2.30 per pound $ 8.00 per hour During the most recent month, the following activity was recorded: a. 25,900.00 pounds of material were purchased at a cost of $2.10 per pound b. All of the material purchased was used to produce 3,000 units of Zoom c. 700 hours of direct labor time were recorded at a total labor cost of $6,300 Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month 1. Materials price variance 1. Materials quantity variance 2 Labor rate variance 2 Labor efficiency variance Standard Cast $17.94 $2.40 Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for…