Calculate the materials price variance

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Reference no: EM131256155

Chapter 23 End-of-Chapter (EOC) Project

Complete this project as a separate word or pdf file

Submit as a Canvas Assignment at the course website

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Cave Creek Industrial Works has the following standards for one of its products.

Direct Material (3ft @ $4) $12.00

Direct Labor (.4hr @ $12) $ 4.80

During the most recent year, the following actual results were recorded.

Production 6,000 Units

Direct Material (11,750ft @ $5.20) $61,100

Direct Labor (2,900Hr @ $10.20) $29,580

1. Calculate the Materials Price Variance

2. Calculate the Materials Usage Variance

3. Calculate the Labor Rate Variance

4. Calculate the Labor Efficiency Variance

Reference no: EM131256155

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