?What is the price variance of direct materials -1 .. - -- --. Wangsgard Manufacturing has the following standard cost sheet for one of its

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question - 2: Short Answers
The direct and indirect variances. For Example : 700000 u or 700000 f or 700000 only
?What is the price variance of direct materials -1
Wangsgard Manufacturing has the following standard cost sheet for one of its
products:
$ 10
Direct materials (2 ft. @ $5)
Direct labor (0.5 hr. @ $10)
Fixed overhead (0.5 hr. @ $2)'
Variable overhead (0.5 hr. @ $4)
Standard unit cost
1
$18
*Rate based on expected activity of 2,500 hours
During the most recent year, the following actual results were recorded:
Production
6,000 units
$ 61,100
29,580
Direct materials (11,750 ft. purchased and used)
Direct labor (2,900 hrs.)
Fixed overhead
Variable overhead
6,000
10,500
Refer to the data given in point (1). What is the efficiency variance of direct -2
?labor
AR
Transcribed Image Text:docs.google.com forms/d/e/1FA1PQLSE-rQkh8FZPGnapek0906DigYuMW7PNoioLMsrvBay Question - 2: Short Answers The direct and indirect variances. For Example : 700000 u or 700000 f or 700000 only ?What is the price variance of direct materials -1 Wangsgard Manufacturing has the following standard cost sheet for one of its products: $ 10 Direct materials (2 ft. @ $5) Direct labor (0.5 hr. @ $10) Fixed overhead (0.5 hr. @ $2)' Variable overhead (0.5 hr. @ $4) Standard unit cost 1 $18 *Rate based on expected activity of 2,500 hours During the most recent year, the following actual results were recorded: Production 6,000 units $ 61,100 29,580 Direct materials (11,750 ft. purchased and used) Direct labor (2,900 hrs.) Fixed overhead Variable overhead 6,000 10,500 Refer to the data given in point (1). What is the efficiency variance of direct -2 ?labor AR
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