Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical
Fantastic news! We've Found the answer you've been seeking!
Question:
Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical X Standards are gallons of materials at $ per gallon and hours of labor at a standard wage rate of $ During September, Ferry Chemical produced gallons of Chemical X Ferry Chemical purchased and used totaled gallons at a total cost of $ Payroll totaled $ for hours worked.
a Calculate the direct materials price variance. Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect ie zero variance
b Calculate the direct materials quantity variance. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect ie zero variance
c Calculate the direct labor rate variance. Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect ie zero variance
d Calculate the direct labor efficiency variance. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect ie zero variance
Related Book For
Posted Date: