Ch $21$: Homework

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Lucia Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials $(14$ pounds @ $$4$ per pound$)$

Direct labor $(3$ hours @ $$15$ per hour$)$

During May the company incurred the following actual costs to produce $9,000$ units.

Direct materials pounds @ $$3\mathrm{.}80$ per pound$)$

Direct labor hours @ $$15\mathrm{.}10$ per hour$)$

$$56$

$45$

AR $=$ Actual Rate

$SR=$ Standard Rate

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

$AH=$ Actual Hours

$SH=$ Standard Hours

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate variance and the direct labor efficiency variance.

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Ch $21$: Homework

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$4$

$14\mathrm{.}28$

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$\backslash$table$[[$eBook$],[$Hint$],[$Ask$],[$Print$],[$References$]]$

$AH=$ Actual Hours

$SH=$ Standard Hours

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate variance and the direct labor efficiency variance.

Complete this question by entering your answers in the tabs below.

Required $1$

Compute the direct materials price and quantity variances.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

Mc

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Ch $21$: Homework

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$4$

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$\backslash$table$[[$eBook$],[$Hint$],[$Ask$],[$Print$],[$References$]]$

Lucia Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials $(14$ pounds @ $$4$ per pound$)$

Direct labor $(3$ hours @ $$15$ per hour$)$

During May the company incurred the following actual costs to produce $9,000$ units.

Direct materials pounds @ $$3\mathrm{.}80$ per pound$)$

Direct labor hours @ $$15\mathrm{.}10$ per hour$)$

$$56$

$45$

AR $=$ Actual Rate

$SR=$ Standard Rate

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

$AH=$ Actual Hours

$SH=$ Standard Hours

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate variance and the direct labor efficiency variance.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

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Ch $21$: Homework

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$4$

$14\mathrm{.}28$

points

$\backslash$table$[[$eBook$],[$Hint$],[$Ask$],[$Print$],[$References$]]$

$AH=$ Actual Hours

$SH=$ Standard Hours

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate variance and the direct labor efficiency variance.

Complete this question by entering your answers in the tabs below.

Required $1$

Compute the direct materials price and quantity variances.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

Mc

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$4$ of $7$

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Ch $21$: Homework $($i

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Exercise $21-11($Algo$)$ Direct materials and direct labor variances LO P$3$

Lucia Company has set the following standard cost per unit for direct materials and direct labor.

Direct materials $(14$ pounds @ $$4$ per pound$)$

$$56$

Direct labor $(3$ hours @ $$15$ per hour$)$

$45$

During May the company incurred the following actual costs to produce $9,000$ units.

Direct materials pounds a $$3\mathrm{.}80$ per pound$)$

$$490,200$

Direct labor $(31,800$ hours a $$15\mathrm{.}10$ per hour$)$

$480,180$

$AR=$ Actual Rate

$SR=$ Standard Rate

$AQ=$ Actual Quantity

$SQ=$ Standard Quantity

$AP=$ Actual Price

$SP=$ Standard Price

$AH=$ Actual Hours

$SH=$ Standard Hours

$(1)$ Compute the direct materials price and quantity variances.

$(2)$ Compute the direct labor rate variance and the direct labor efficiency variance.

Complete this question by entering your answers in the tabs below.

Required $1$

Compute the direct materials price and quantity variances.