1) Babcock Inc. is provided the following data concerning one of the products in its standard...

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1) Babcock Inc. is provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of labor-hours. Standard Quantity or Hours per Unit of Output Standard Price or Rate Inputs 7.0 $ 5.30per ounce Direct materials Direct labor ounces hours 0.60 $ 19.80per hour Variable manufacturing overhead 0.60 hours $ 4.40per hour The company has reported the following actual results for the product for April: Budgeted output Actual output 6,800 units 6,200 units 48,200 ounces Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours 41,400 ounces 3,150 hours Actual direct labor cost 64,890 Actual variable overhead cost 12,915 Required: a. Compute the materials price variance for April. b. Compute the materials quantity variance for April. $ 279,560 $ $ 1) Babcock Inc. is provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of labor-hours. Standard Quantity or Hours per Unit of Output Standard Price or Rate Inputs 7.0 $ 5.30per ounce Direct materials Direct labor ounces hours 0.60 $ 19.80per hour Variable manufacturing overhead 0.60 hours $ 4.40per hour The company has reported the following actual results for the product for April: Budgeted output Actual output 6,800 units 6,200 units 48,200 ounces Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours 41,400 ounces 3,150 hours Actual direct labor cost 64,890 Actual variable overhead cost 12,915 Required: a. Compute the materials price variance for April. b. Compute the materials quantity variance for April. $ 279,560 $ $

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