4 Exercise 21-15 Direct materials and direct labor variances LO P2 The following

Question

4 Exercise 21-15 Direct materials and direct labor variances LO P2 The following infor describes pr ercer Manufacturing for the year 16,000 1bs. at $4.05 per lb 5, 545 hours for a total of $105,355 30,000 materials Actual units produced Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound and 10 minutes of direct labor at $20 per hour Hint AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Print AH Actual Hours SH d Hours SR Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate or unfavorable Complete this question by entering your answers in the tabs below K Prev 4 of 6 N search

Explanation / Answer

Direct material variance :

Direct labour variance :

AQ AP AQ*AP AQ SP AQ*SP SQ SP SQ*SP 16000 4.05 64800 16000 4 64000 15000 4 60000 800 4000 Material price variance 800 Unfavorable Material quantity variance 4000 Unfavorable Material cost variance 4800 Unfavorable

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