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Compute the following variances for the month of May

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Question - During May, Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.

Direct material purchased: 18,000 yards at $1.38 per yard $24,840

Direct material used: 9,500 yards at $1.38 per yard 13,110

Direct labor: 2,100 hours at $9.15 per hour 19,215

The standard prime costs for one unit of Stylex are as follows:

Direct material: 20 yards at $1.35 per yard. $27

Direct labor: 4 hours at $9.00 per hour 36

Total standard prime cost per unit of output $63

Required - Compute the following variances for the month of May.

Reference no: EM132756744

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