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.