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Actual production costs for the production of 1000 stuffed

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Reference no: EM13599474

Woods Enterprises prepared the following standard costs for production of one stuffed bear: Direct materials: 1.5 pounds of stuffing at $2 per lb
Direct labor: 2 hours of assembly at $15 per hour
Actual production costs for the production of 1,000 stuffed bears required 1,750 pounds of stuffing at a cost of $1.95 per pound and 1,950 labor hours at $15.25 per hour.

a) Calculate the direct material price variance
b) Calculate the direct material usage variance

Reference no: EM13599474

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