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Calculate material and labor variances incurred by bradshaw

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Reference no: EM132507593

Bradshaw Corporation makes leather purses and uses a standard costing system with the following standards for material and labor:

Material (six strips of leather @ $8) $48

Direct labor (1.5 hours @ $12.00) 18

Total $66

  • During the year, Bradshaw produced 10,000 purses. It purchased 61,000 strips of leather at $7.96 each, and used 60,500 strips. Actual direct labor was 15,600 hours costing $12.50 per hour.

Question 1: Calculate the material and labor variances incurred by Bradshaw.

Material Price Variance

Material Quantity Variance

Labor Rate Variance

Labor Efficiency Variance

Reference no: EM132507593

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