Bravo baking uses standard costing to analyze its

Reference no: EM13604436

Bravo Baking uses standard costing to analyze its performance. The data below is provided for your use in determining Bravo's variances.
Standard Cost per unit Cost /Unit Amount/Unit Standard Cost
Material Cost (Ingredients) (.5 lbs) 2.29 .5 lbs $4.58
Direct Labor( .25 hrs * $9/hr) 2.25 .25 hrs $9.00
Overhead 0.57
Total 5.11

During the month, Bravo sold 9,000 loaves of bread and used 4,650 pounds of ingredients. Also during the month, Bravo purchased 5,000 pounds of ingredients at a cost of $22,500. Employees worked a total of 2200 hours and actual labor costs were $19,998

Required:
Part a. Compute the material price and quantity variance
I need to know the numbers to put in where the x's are.
material price variance = ( x - x) * x
= x Fav/unf> x

material quality variance = ( x - x) * x
= x Fav/unf> x

labor rate variance = ( x - x) * x
= x Fav/unf> x

labor efficiency variance =( x - x) * x
= x Fav/unf> x

Reference no: EM13604436

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