The standards for one case of liquid weed killer are: During the week ended Augu
ID: 2381811 • Letter: T
Question
The standards for one case of liquid weed killer are:
During the week ended August 6, the following activity took place:
23,028 lbs. of raw material were purchased for inventory at a total cost of $176,164.
Calculate each of the following variances (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round intermediate calculation to 2 decimal places and final answer to nearest whole dollar amount. Omit the "$" sign in your response):
The standards for one case of liquid weed killer are:
Explanation / Answer
Answer:
Calculation of each of the following variances (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round intermediate calculation to 2 decimal places and final answer to nearest whole dollar amount. Omit the "$" sign in your response):
a. Price variance for raw materials purchased. $ 3454
U
b. Raw materials usage variance. $ 877.50
F
c. Direct labor rate variance. $ 3344.75
U
d. Direct labor efficiency variance. $ 4816
F
e. Variable overhead spending variance. $ 823
F
f. Variable overhead efficiency variance. $ 1254
F
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