QUESTION: Natasha Inc. produces victory T-shirts for Raptor's fans; however, due to a global pandemic, sales have not be

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Question Natasha Inc Produces Victory T Shirts For Raptor S Fans However Due To A Global Pandemic Sales Have Not Be 1 (163.07 KiB) Viewed 12 times

QUESTION: Natasha Inc. produces victory T-shirts for Raptor's fans; however, due to a global pandemic, sales have not been as expected this year. The following standards were set at the beginning Standard 3.00 $5.00 Direct material per unit (metre(s)) Material price per metre Labour time per unit Direct labour rate (per hour) The company has the following actuals for the year: 0.25 hr $14.00 Production units Total direct material purchased (metre(s)) Total direct material used (metre(s)) Total labour time Actual 20,000 60,000 50,000 4,500 hrs $5.20 $15.00 Material price per metre Direct labour rate (per hour) Use the above information to answer the following questions. Compute the amount of the direct materials price variance. HINT: remember the entry rules! I A/ Indicate if the direct materials price variance is Favourable (enter F) or Unfavourable (enter UF). HINT: Enter your letter without any additional spaces! A/ the current year: Compute the amount of the direct materials usage (efficiency) variance. HINT: remember the entry rules! A/ Indicate if the direct materials usage (efficiency) variance is Favourable (enter F) or Unfavourable (enter UF). HINT: Enter your letter without any additional spaces! A/ Compute the amount of the direct labour rate (price) variance. HINT: remember the entry rules! Indicate if the direct labour rate (price) variance is Favourable (enter F) or Unfavourable (enter UF). HINT: Enter your letter without any additional spaces! A/ Compute the amount of the direct labour efficiency (or usage) variance. HINT: remember the entry rules! A/ A Indicate if the direct labour efficiency (usage) variance is Favourable (enter F) or Unfavourable (enter UF). HINT: Enter your letter without any additional spaces!