Huron company produces a commercial cleaning compound

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Reference no: EM13966045

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below:

	Standard Quantity or Hours		Standard Price
	Standard Quantity or Hours		or Rate
Direct materials	7.4	pounds	$	2.3	per pounds
Direct labor	0.9	hours	$	8.5	per hour

During the most recent month, the following activity was recorded:

a. 21,500 pounds of material were purchased at a cost of $2.10 per pound.

b. All of the material purchased was used to produce 2,500 units of Zoom.

c. 2,000 hours of direct labor time were recorded at a total labor cost of $21,000.

Required:

1. Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Direct materials price variance
Direct materials quantity variance

2. Compute the labor rate and efficiency variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Direct materials price variance
Direct materials quantity variance

Reference no: EM13966045

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