Reference no: EM133181029
Question - Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom follow:
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Standard Quantity or Hours
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Standard Price or Rate
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Standard Cost
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Direct materials
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4.10 kilograms
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$2.20 per kilogram
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$9.02
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Direct labour
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0.42 hour
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$8.00 per hour
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3.36
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Variable overhead
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0.42 hour
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$1.30 per hour
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0.55
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The budgeted fixed overhead cost is $14,619 per month. The denominator activity level of the allocation base is 1,596 direct labour- hours.
During the most recent month, the following activity was recorded:
a. 9,100 kilograms of material were purchased at a cost of $2.22 per kilogram.
b. All of the material purchased was used to produce 3,800 units of Zoom.
c. A total of 790 hours of direct labour time was recorded at a total labour cost of 9,243.
d. The variable overhead cost was $1,580, and the fixed overhead cost was $31,713.
Required - Compute the direct materials price and quantity variances for the month.
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