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Compute the materials purchased price variance

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Question - The following information applies to Wallace Shirt Company. Standard Data per unit: Material 3 pieces at $2 per piece $6 per unit. Labor 2 hours at $3 pero hour at $6 per unit. Actual Data: Material 25,000 pieces of materia were purchased at $2.10 per piece. Twenty four thousand pieces of material were used. Labor 17,000 hours at $2.50 per hour. Actual units produced 9,000. Compute the following: materials purchased price variance, labor efficiency variance, materials quantity (usage) variance and labor rate variance?

Reference no: EM131806623

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