Variance analysis, material, and labor The following information is available for Mandalay Company: Actual Materials 12,000 pounds
Fantastic news! We've Found the answer you've been seeking!
Question:
Variance analysis, material, and labor The following information is available for Mandalay Company:
Actual | |
Materials | 12,000 pounds purchased at $2.50 per pound; used 10,500 pounds |
Direct Labor | 1,800 hours at $12 per hour |
Units Produced | 500 |
Standard | |
Materials | 20 pounds per unit at a price of $2.20 per pound |
Direct Labor | 4 hours per unit at a wage rate of $10 per hour |
(a) Determine the material price variance based on the number of materials purchased.
(b) Determine the material quantity variance.
(c) Determine the direct labor rate variance.
(d) Determine the direct labor efficiency variance.
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
Posted Date: