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Compute all of the variances related to direct labor

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Reference no: EM132315363

Problem:

The Cell Rate Company makes flags that are designed to offend Chicago Cubs fans, for example, a popular model this year is the "Let's see If It Takes Another 100 Years" blue and White Flag.

The following information is available:

                             Actual inputs for each unit of output                  Actual price per unit of input

Direct Materials                  11 yards                                                       $12 per yard

Direct Labor                       4.2 hours                                                      $ 8 per hour

Actual output was 1,000 units (flags). The company's per unit standards call for 15 yards of direct material at $10.00 per yard and 4 hours of direct labor at $9.50 per hour. The Company purchased and used 11,000 yards of material.   

Required:

1. Compute and appropriately label all of the variances related to direct materials.

2. Compute and appropriately label all of the variances related to direct labor.

Reference no: EM132315363

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