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What is material efficiency variance for flint bicycle co

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Reference no: EM132810093

Flint Bicycle Company manufacturers mass market bicycles that they sell to major chain retailers.

?????Standard per bicycle

Direct materials?:?2 tires/bicycle @ $1.25/tire

Direct labor??.5 hour of input at $30 per hour

?????Actual performance for February 2020

Actual number of bicycles manufactured 800

Material purchased and used ?1,620 tires at $1.20 per tire. Some were damaged during installation, and had to be thrown out.

Direct labor ??58,000 hours @ 31.10 per hour

Problem 1: The Material price variance is $____________________

Problem 2: The Material efficiency variance is

Reference no: EM132810093

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