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Evaluate the direct materials quantity variance

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Reference no: EM132529055

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

Raw Materials used: 16,000lbs at 4.05 per lbs

Factory payroll: 5,545 hours for totals 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

Question 1: Compute the direct materials price variance

Question 2: Compute the direct materials quantity variance

Question 3: Compute the direct labor rate variance

Question 4: Compute the direct labor efficiency variance

Question 5: Indicate whether each variance is favorable or unfavorable.

Reference no: EM132529055

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