MUST SHOW WORK! Part IV. (16 Points). 8-Hour SD-Organique Trink, Inc. gathered t

Question

MUST SHOW WORK! Part IV. (16 Points). 8-Hour SD-Organique Trink, Inc. gathered the following information for Job #341 : Standard Total Cost Actual Total Cost Direct materials: Standard: 2,000 pints at S4/pint Direct labor: Standard: 500 hours at $7.50/hr Actual: 480 hours at $7.25 hr. $8,000 Actual: 2,150 pints at S4.50pint 9,675 3.480 What is the direct materials price variance? (4 points). What is the direct materials efficiency variance? (4 points) What is the direct labor price variance? (4 points). What is the direct labor efficiency variance? (4 points).

Explanation / Answer

a Direct Material Price Variance =Actual Qty*(Ap-SP) =2150*(4.5-4) 1075 Unfavorable b Direct Material Efficency Variance =(Actual Qty-Standared Qty)*(SP) (2150-2000)*4 600 Unfavorable c Direct Labor Price Variance ==Actual hour*(Ar-Sr) 480*(7.50-7.25) 120 Favorable d Direct Efficency variance =(Actual hr-Standared hr)*(SP) =(500-480)*(7.50) 150 Favorable

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