Calculate the material variances. Calculate the labor variances. Cookie Business Actual Cost of Direct Materials $ 225,000

Calculate the material variances.

Calculate the labor variances.

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Cookie Business Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate 15.50 Standard Labor Rate $ 15.00 Actual Hours Worked 45 Standard Hours Worked 40 Favorable/ Amount Unfavorable Calculate Materials Variances: Materials Price Variance Materials Quantity Variance Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance Cookie Business Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate 15.50 Standard Labor Rate $ 15.00 Actual Hours Worked 45 Standard Hours Worked 40 Favorable/ Amount Unfavorable Calculate Materials Variances: Materials Price Variance Materials Quantity Variance Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance

Answer rating: 100% (QA)

Material price variance Formula standard price actual price x ... View the full answer