Question: 6,7,8 please! Just easier to post with one since it has the same information. Thank you! Milar Corporation makes a product with the following standard

6,7,8 please! Just easier to post with one since it has the same information. Thank you!  6,7,8 please! Just easier to post with one since it has

Milar Corporation makes a product with the following standard costs: Standard Quantity of Hours 7.7 pounds 0.1 hours 0.1 hours Standard Price or Rate Direct materials Direct labor Variable overhead S 4.00 per pound S 20.00 per hour S 4.00 per hour In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of S65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. 6) The materials quantity variance for January is: A) $2,640 U B) S2,574 F C) $2,640 F D) S2,574 U 7) The materials price variance for January is: A)$1,690 U B) $1,540 F C) $1,540 U D) $1,690 F 8) The labor efficiency variance for January is: A) $200 U B) $213 U C) $200 F D) $213 F

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!