STANDARD COSTING  The following July information is for Kingston Company. Standards:  Material 3.0 feet per unit @$ 4.20 per foot. Labor 2.5 hours per unit @ $ 7.50 per hour  Actuals: Production 2,750 units produced during the month . Materials 8700 feet used, 9,000 feet purchased @ $4.50 per foot. Labor 7,000 direct labor hours @ 7.90 per hour 1. What is the material price variance ( calculated at point of purchase). a) $2700 U b) $2700 F c) $ 2610 F d) $ 2610 U 2. What is the material quantity variance ? a) $3105 F b)$1050F c) 3105 U d) 1890 U 3.What is the labor rate variance ? a) 3480 U b) 3480 F c) 2800 U d) 2800 F 4.What is the labor efficacy variance ? a)$ 1875 U b) $938  U c) $ 1875 U d) $ 1125 U

STANDARD COSTING 

The following July information is for Kingston Company.

Standards: 

Material 3.0 feet per unit @$ 4.20 per foot.

Labor 2.5 hours per unit @ $ 7.50 per hour 

Actuals:

Production 2,750 units produced during the month .

Materials 8700 feet used, 9,000 feet purchased @ $4.50 per foot.

Labor 7,000 direct labor hours @ 7.90 per hour

1. What is the material price variance ( calculated at point of purchase).

a) $2700 U

b) $2700 F

c) $ 2610 F

d) $ 2610 U

2. What is the material quantity variance ?

a) $3105 F

b)$1050F

c) 3105 U

d) 1890 U

3.What is the labor rate variance ?

a) 3480 U

b) 3480 F

c) 2800 U

d) 2800 F

4.What is the labor efficacy variance ?

a)$ 1875 U

b) $938  U

c) $ 1875 U

d) $ 1125 U