Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg at $2.50 per kilogram) $15.00 Direct labour (2.00 hours at $12.20 per hour) $24.40 During the month of April, the company manufactures 280 units and incurs the following actual costs: Direct materials purchased and used (1,880 kg) $5,076 Direct labour (530 hours) $6,201 Calculate the total, price, and quantity variances for materials and labour. Materials Price variance Quantity variance Total variance > > Labour > > >

Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg at $2.50 per kilogram) $15.00 Direct labour (2.00 hours at $12.20 per hour) $24.40 During the month of April, the company manufactures 280 units and incurs the following actual costs: Direct materials purchased and used (1,880 kg) $5,076 Direct labour (530 hours) $6,201 Calculate the total, price, and quantity variances for materials and labour. Materials Price variance Quantity variance Total variance > > Labour > > >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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