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Calculate the direct-material price variances

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Reference no: EM132501917

Digital Boards, Inc. manufactures a product that has the following standard costs:

Direct materials: 10 sq. mm. at $8.50 per sq. mm. $85.00

Direct labor: 6 hours at $20.00 per hour 120.00

Total $208.00

The following information pertains to July:

Direct material costs 10,000 sq. mm. at $9.00 per sq. mm., or $90,000

(quantity purchased and quantity used are the same).

Direct labor: 6,800 hours at $19.00 per hour, or $129,200

Actual completed production: 1,100 units

Required:

Question 1: Calculate the following variances and indicate whether each variance is favorable or unfavorable using F for favorable and U for unfavorable.

  • Direct-material price
  • Direct-material quantity
  • Direct-labor rate
  • Direct-labor efficiency

Reference no: EM132501917

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