Arrow industries employs a standard cost system in which

Reference no: EM13569993

Arrow Industries employs a standard cost system in which direct materials inventory is carried at standard cost. Arrow has established the following standards for the prime costs of one unit of product. Use the data for questions 10 to 14. Standard Quantity Standard Price Standard Cost Direct Material 8 pounds $1.80/pound $14.40 Direct Labor 0.25 hours $8.00/hour $2.00 During May, Arrow purchased 160,000 pounds of direct material at a total cost of $304,000. The total direct labor wages for May were $37,800. Arrow manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours.

1) The direct material price variance for May is note that the purchase price variance is based on the amount purchased - while usage variance is based on amount used:

2) The direct material quantity variance for May is:

3) The direct labor rate variance for May is:

4) The direct labor efficiency variance for May is?

Reference no: EM13569993

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