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ual direct materials used ual direct labor used ual units produced ndard quantity and price per unit for direct materials ndard quantity and rate per unit for direct labor Actual Rate Standard Rate Actual Quantity Standard Quantity 16,500 pounds at $4.30 per pound 17,135 hours at $24 per hour 31,000 0.50 pound at $4.25 per pound 0.50 hour at $25 per hour

ual direct materials used ual direct labor used ual units produced ndard quantity and price per unit for direct materials ndard quantity and rate per unit for direct labor Actual Rate Standard Rate Actual Quantity Standard Quantity 16,500 pounds at $4.30 per pound 17,135 hours at $24 per hour 31,000 0.50 pound at $4.25 per pound 0.50 hour at $25 per hour

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 3P: Scattergraph method Using the data in P4-2 and a piece of graph paper: 1. Plot the data points on...
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The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct materials Standard quantity and rate per unit for direct labor AR = Actual Rate SR = Standard Rate AQ Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. 16,500 pounds at $4.30 per pound 17,135 hours at $24 per hour 31,000 0.50 pound at $4.25 per pound 0.50 hour at $25 per hour 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 < Required 1 Required 2 >
Transcribed Image Text:The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced Standard quantity and price per unit for direct materials Standard quantity and rate per unit for direct labor AR = Actual Rate SR = Standard Rate AQ Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. 16,500 pounds at $4.30 per pound 17,135 hours at $24 per hour 31,000 0.50 pound at $4.25 per pound 0.50 hour at $25 per hour 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 < Required 1 Required 2 >
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