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Explain what is the direct materials quantity variance is

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Reference no: EM132631986

Question 1: What is the budgeted cost and actual cost, respectively, of producing one tire is (to the nearest $)

Question 2: What is the direct labor efficiency variance is:

Question 3: What is the direct materials quantity variance is:

Question 4: What is the direct materials price variance is:

The budgeted and actual costs at Goodyear Company is as follows:

 Budgeted costs                                            Actual costs

Materials (per tire): 12 lbs @  $1.80/lb           Total materials purchased: 840,000lbs

Labor (per tire): 4 hrs. @ $14/hr                       Total cost of purchase: $1,554,000

Factory O/H (per tire): 3 hrs. @ $8/hr               Total material used: 849,600 lbs

                                                                    Labor (per tire): 4.1 hrs @ $13/hr

                                                                     Factory O/H (per tire): 2.8 hrs @ $8.50/hr

During October, Goodyear produced 72,000 tires.

Reference no: EM132631986

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