Gossipy Company, which makes a single product called Pissog oronounced pie-zo-gee), has prepared the following cost...

  

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Gossipy Company, which makes a single product called Pissog oronounced pie-zo-gee), has prepared the following cost detail for one unit of Pissog. Direct materials (5 pounds at $3.00 per pound) . Direct labor (2 hours at $14.00 per hour) During the month of June, Gossipy manufactured 400 Pissogs and incurred the following actual costs. Direct materials purchased and used (2,200 pounds) = $5,000 . Direct labor (790 hours) = $12,000 Indicate the following: AQ SQ AP SP AH SH AR SR Gossipy Company (continued) Memorization Table Material Price Variance Material Quantity Variance Labor Price Variance Labor Quantity Variance 1. What is the materials price variance? 2. What is the materials quantity variance? 3. What is the total materials variance? 426 Gossipy Company (continued) What is the labor price variance? 5. What is the labor quantity variance? 6. What is the total labor variance? Gossipy Company, which makes a single product called Pissog oronounced pie-zo-gee), has prepared the following cost detail for one unit of Pissog. Direct materials (5 pounds at $3.00 per pound) . Direct labor (2 hours at $14.00 per hour) During the month of June, Gossipy manufactured 400 Pissogs and incurred the following actual costs. Direct materials purchased and used (2,200 pounds) = $5,000 . Direct labor (790 hours) = $12,000 Indicate the following: AQ SQ AP SP AH SH AR SR Gossipy Company (continued) Memorization Table Material Price Variance Material Quantity Variance Labor Price Variance Labor Quantity Variance 1. What is the materials price variance? 2. What is the materials quantity variance? 3. What is the total materials variance? 426 Gossipy Company (continued) What is the labor price variance? 5. What is the labor quantity variance? 6. What is the total labor variance?

Answer rating: 100% (QA)

AQ 2200 Pounds SQ 5 Pounds AP 5000 400 1250 SP 300 AH 790 hours SH 2 hours AR 12000 790 1519 SR 1400 ... View the full answer