A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @...

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A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $9 per pound 2 DLH @ $16 per DLH 2 DLH @ $13 per DLH Actual Results 50,300 pounds @ $9.20 per pound 16,400 hours @ $16.50 per hour $ 221, 000 8,300 units Direct materials Direct labor Overhead Units manufactured Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $9 per pound 2 DLH @ $16 per DLH 2 DLH @ $13 per DLH Actual Results 50,300 pounds @ $9.20 per pound 16,400 hours @ $16.50 per hour $ 221, 000 8,300 units Direct materials Direct labor Overhead Units manufactured Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost

Answer rating: 100% (QA)

Actual cost Standard cost AQ AP AQAP AQ SP AQSP SQ SP 50300 92 ... View the full answer