please answer to this question with details ASAP. show works please The Apple Hi

Question

please answer to this question with details ASAP. show works please

The Apple Hill C following direct material and direct labor standards for its single product: ompany uses standard costing and has established the Direct materials Direct labor 2 gallons at $3 per gallon 0.5 hours at $8 per hour During September, the company made 4,000 units and incurred the following costs: 8,100 gallons at $3.10 per gallon 7,600 gallons 2,200 hours at $8.25 per hour Direct materials purchased Direct materials used Direct labor used Required: Use the above information to calculate the following: a) Materials quantity variance b) Materials price variance c) Labor efficiency variance d) Labor rate variance

Explanation / Answer

a) Material quantity variance = (Standard quantity-actual quantity)Standard price

= (4000*2-7600)*3

Material quantity variance = 1200 F

b) Material price variance = (Standard price-actual price)Actual quantity purchased

= (3-3.10)*8100

Material price variance = 810 U

c) Labour efficiency variance = (Standard hours-actual hours)Standard rate

= (4000*0.50-2200)*8

Labour efficiency variance = 1600 U

d) Labour rate variance = (Standard rate-actual rate)actual hours

= (8-8.25)*2200

Labour rate variance = 550 U

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