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Calculate the direct material price and efficiency variances

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Reference no: EM132838040

Wanda's Wollen Mill manufactures mittens, gloves, and other wool clothing. A certain designed ski parka requires the following:

Direct materials standard 4 sq yds at $13.50 per yard

Direct labor standard 1.5 hours at $20.00 per hour

During April, the company made 1,500 parkas and used 5,500 square yards of fabric. They purchased 6,200 sq. yards of fabric for $86,800 in April. Direct labor totaled 2,100 hours for $45,150.

Problem 1: Calculate the direct material price and efficiency variances.

Reference no: EM132838040

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