Compute the direct materials price and quantity and the

Reference no: EM13593234

The following information describes production activities of the Central Corp.:

Raw materials used 16,000 lbs. at $4.05 per lb.
Factory payroll 5,545 hours for a total of $72,085
30,000 units were completed during the year
Budgeted standards for each unit produced:
1/2 lb. of raw material at $4.15 per lb.
10 minutes of direct labor at $12.50 per hour

Compute the direct materials price and quantity and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Please show all work and computations.

Reference no: EM13593234

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