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5 men worked a total of 80 hours and were paid $17.50 per hour. . . . $1,400.00
5.5 gallons of Glow were used and cost $27.50 per gallon . . . . . . . . . 151.25
Total cost of the job . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,551.25
Compute the following variances, using the formulas on pages 421–422 and 424:
Materials price and quantity variances.
Labor rate and efficiency variances.
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Related Book For
Principles of Cost Accounting
ISBN: 978-1305087408
17th edition
Authors: Edward J. Vanderbeck, Maria Mitchell
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