Homework: Chapter 12 Lab Score: 0.56 of 1 pt Π 1-536 (similar to) 1 of 1 (1 c

Question

Homework: Chapter 12 Lab Score: 0.56 of 1 pt Π 1-536 (similar to) 1 of 1 (1 complete) Score: 55.56%, 0.56 Question Help (click the icon to view the standards.) Actual results from last month's production of 1,800 blankets are as follows (Click the icon to view the actual results ) Read the 1,010 x ( S 14.00 13.10 First, d - DL 14.00 x ( 900 1,010 )= $ 1,540 Requirement 7. Analyze each variance and speculate as to what may have caused that variance. The favorable DM price variance and unfavorable DM quantity variance may have been caused by purchasing inferior raw materials The Click to select your answer(s) and then click Check Answer parts remaining Clear All 2

Explanation / Answer

As per chegg's policy I am allowed to answer only the first 4 parts of a question so please don't mind and ask other questions separately.

1. Standard direct material cost for one blanket = 6*8.5 = 51

2. Actual cost per yard of fabric purchased = 90720/11340 = 8 per yard

3. direct material price and quantity variance

Direct materials price variance = Actual quantity of material ( standard price per material - Actual cost per material)

= 11340*(8.5-8)

= 5670 F

Direct materials quantity variance = Standard price*(Standard quantity - Actual quantity)

= 8.5*(6*1800-11340)

= 4590 U

4. Standard direct labour cost per blanket = 0.5*14 = 7

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