Reference no: EM132793237
Lebron Co. manufactures product X with the following standard costs:
Direct materials, 20 yards @ ?13.50 per yard ?270
Direct labor, 4 hours @ ?90.00 per hour ?360
The following information pertains to the month of May:
Direct materials, 18,000 yards @ ?13.80 per yard ?248,400
Direct labor, 2,100 hours @ ?91.50 per hour ?192,150
Direct materials used 9,500 yards
Production during May 500 units
Problem 1: What is the material usage variance?
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