Question: During April, Dryden Company's material purchases amounted to 6,500 pounds at a price of $7.40 per pound. Actual costs incurred in the production of 2,000

During April, Dryden Company's material purchases amounted to 6,500 pounds at a price of $7.40 per pound. Actual costs incurred in the production of 2,000 units were as follows:

Direct labor: $118,035 ($18.30 per hour)

Direct material: $31,820 ($7.40 per pound)

The standards for one unit of Dryden Company's product are as follows:

Direct Labor

Direct Material

Quantity, 3 hours per unit Quantity Rate, $18.00 per hour Price

Required: Calculate:

a) Direct Materials Usage and Price Variances

b) Direct Labour Efficiency and Rate Variances

2 pounds per unit $7.20 per pound

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