Lucia Company Has Set The Following Standard Cost Per Unit For Direct Materials And Direct Labor Direct Materials 14 P 1 (124.03 KiB) Viewed 23 times
Lucia Company Has Set The Following Standard Cost Per Unit For Direct Materials And Direct Labor Direct Materials 14 P 2 (124.03 KiB) Viewed 23 times
Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) $ 70 Direct labor (3 hours @ $15 per hour) 45 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (116,700 pounds @ $4.80 per pound) $ 560,160 439,410 Direct labor (29,100 hours @ $15.10 per hour) AR= Actual Rate SR = Standard Rat AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting fav variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Standard Cost AQ AR AQ SR SQ SR
Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) $ 70 Direct labor (3 hours @ $15 per hour) 45 During May the company incurred the following actual costs to produce 8,100 units. Direct materials (116,700 pounds @ $4.80 per pound) $ 560,160 439,410 Direct labor (29,100 hours @ $15.10 per hour) AR= Actual Rate SR = Standard Rat AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting fav variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Standard Cost AQ AR AQ SR SQ SR
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