Indicate the amount and nature favorable or unfavorable of

Assignment Help Accounting Basics

Reference no: EM13572617

Standard cost s and actual costs for direct materials, direct labor, and factory overhead for the manufacture of 250 units of product were as follows:

Standard Costs

Direct materials................................. 500 Kilograms at $25 per kilogram

Direct labor........................................4,000 direct labor hours at $19 an hour

Factory overhead..................................Productive capacity of 100%, 10,000

NOTE: Each unit of product requires a standard of 32 machine hours.

Actual Costs

Direct materials.................................. 490 kilograms at $24.75 per kilogram

Direct labor....................................... 4,200 direct labor hours at $19.20 an hour

Factory overhead..................................Total variable cost, $24,750

Total fixed cost, $20,000

INSTRUCTIONS: Indicate the amount and nature (favorable or unfavorable) of each of the following variances. Show your work on the amounts for partial credit.

VARIANCE	Answers
46. Direct materials quantity variance	$	F U
47. Direct materials price variance	$	F U
48. Direct labor time or efficiency variance	$	F U
49. Direct labor rate or price variance	$	F U

Reference no: EM13572617

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