Crystal Company produces glass jars. The unit for costing purposes is a case of 1 8 jars.
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Question:
Crystal Company produces glass jars. The unit for costing purposes is a case of jars. The following standards for producing one case of jars have been established:
Direct materials kg @ $ $
Direct labour hours @ $
Standard prime cost $
During December, kilograms of material were purchased and used in production. There were cases produced, with the following actual prime costs:
Direct materials $
Direct labour for hrs
Required:
Compute the materials variances.
Compute the labour variances.
What are the advantages and disadvantages that can result from the use of a standard costing system
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