Reference no: EM131215644
Top Notch Music Inc. produces car stereos. During the year Top Notch Music produced 7,000 stereos. Materials and labor standards for producing these units are as follows: Direct materials (1 electronic component kit @ $185) 185 Direct labor (8 hours @ $15) 120 Required:
A. Compute the direct material price and usage variances. Electronic kits purchased and used were 7,100 kits at an actual price of $175 per kit.
B. Compute the direct labor rate and efficiency variances. 58,000 labor hours were used and the actual labor rate was $16 per hour.
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: Top Notch Music Inc. produces car stereos. During the year Top Notch Music produced 7,000 stereos. Compute the direct material price and usage variances. Electronic kits purchased and used were 7,100 kits at an actual price of $175 per kit. Compute t..
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