BASE DATA:

Budgeted (Std) Quantity of Direct Materials for Production

960

Budgeted (Std) Price of Direct Materials per Pound

$ 1,955.00

Budgeted (Std) Quantity of Direct Labor Hours Used for Production

829

Budgeted (Std) Price of Direct Labor per Hour

$ 849.00

Budgeted (std) Units Produced and Sold

29,246

Actual Quantity of Direct Materials Used for Production

944

Actual Price of Direct Materials per Pound

$ 1,812.00

Actual Quantity of Direct Labor Hours Used for Production

832

Actual Price of Direct Labor per Hour

$ 852.00

Note: It takes one unit of direct materials to make one production unit.

WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT:

QUESTION ONE

What is the Direct Manufacturing Labor Price Variance?

Record answer in dollars and cents here

Record whether above answer is "favorable" or "unfavorable here

QUESTION 2

What is the Direct Manufacturing Material Price Variance?

Record answer in dollars and cents here

Record whether above answer is "favorable" or "unfavorable here

QUESTION 3

What is the Direct Manufacturing Labor Efficiency Variance?

Record answer in dollars and cents

Record whether above answer is "favorable" or "unfavorable here