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Calculate the direct material price and efficiency variances

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Reference no: EM132972638

Wilson's Winter Woolens manufactures jackets and other wool clothing. A certain designed ski parka requires the following:

Direct materials standard 2 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 3,150 square yards of fabric. They purchased 3,500 sq. yards of fabric for $46,550 in April. Direct labor totaled 2,100 hours for $45,150.

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

Reference no: EM132972638

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