Topper toys has developed a new toy called the brainbuster

Reference no: EM13595355

Topper Toys has developed a new toy called the Brainbuster. The company has a standard cost system to help control costs and has established the following standards for the Brainbuster toy:

Direct materials: 8 pieces per toy at $0.30 per piece
Direct labor: 1.2 hours per toy at $7 per hour

During the month of August, the company produced 5,000 Brainbuster toys. Production data for the month on the toy follow:

Direct materials: 50,000 pieces were purchased for use in production at a cost of $0.28 per piece.
Direct labor: 6,400 direct labor-hours were worked at a cost of $48,000.

Instructions:
Prepare a brief explanation of the significance and possible causes of each variance.

Reference no: EM13595355

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