Direct Labor Efficiency Information hours Average time to make a bunny 0.25 Inspection time per bunny hours 0.05 During the January of 2011 the following actual usage and costs were recorded: Chocolate Bunnies Made 800 bunnies Direct Material ACTUAL Information Pounds of Chocolate used lbs 845 Pounds of Chocolate Purchased Ibs 860 $ Total price paid for Chocolate 9,475 O Copyright of Michael J. Meyer 2019. Use by permission only. Direct Labor ACTUAL Information Hours worked hours 245 $ 4,000 Wages and Benefits paid REQUIRED: 1. Determine the standards for Direct Material Price and Usage. 2. Determine the standards for Direct Labor Rate and Efficiency 3. Calculate the Actual Average Material Price per pound of Chocolate. Direct Materials Price Information 5.00 per lb. $ Price per pound of Chocolate $ Shipping Charges per shipment Excise/Import taxes per shipment Purchase Discount (always taken) 1,200 for 200 lbs. shipment 150 for 200 lb. shipment $ 3% Direct Materials Usage Information Chocolate per bunny 1 lb. 0.05 lb. Spoilage per bunny Rejected products 1 bunny is rejected for each 20 that are of sufficient quality Direct Labor Rate Information 12.00 per hour Average Rate paid to workers $ Health Insurance paid per employee per month (160 hours) Retirement paid to workers Social Security Taxes paid by company 250.00 per month (160 hours) 3% 7.65% Direct Labor Efficiency Information Average time to make a bunny 0.25 hours 0.05 hours Inspection time per bunny Standards: Direct Materials Price Standard (per lb.) Grade on the assignment is 0 out of 5 per lb Direct Materials Usage Standard (per bunny) There is AT LEAST ONE error on this sheet per bunny Direct Labor Rate Standard (per hour) per hour Direct Labor Efficiency Standard (per bunny) hours per bunny SS Direct Labor Efficiency Information hours Average time to make a bunny 0.25 Inspection time per bunny hours 0.05 During the January of 2011 the following actual usage and costs were recorded: Chocolate Bunnies Made 800 bunnies Direct Material ACTUAL Information Pounds of Chocolate used lbs 845 Pounds of Chocolate Purchased Ibs 860 $ Total price paid for Chocolate 9,475 O Copyright of Michael J. Meyer 2019. Use by permission only. Direct Labor ACTUAL Information Hours worked hours 245 $ 4,000 Wages and Benefits paid REQUIRED: 1. Determine the standards for Direct Material Price and Usage. 2. Determine the standards for Direct Labor Rate and Efficiency 3. Calculate the Actual Average Material Price per pound of Chocolate. Direct Materials Price Information 5.00 per lb. $ Price per pound of Chocolate $ Shipping Charges per shipment Excise/Import taxes per shipment Purchase Discount (always taken) 1,200 for 200 lbs. shipment 150 for 200 lb. shipment $ 3% Direct Materials Usage Information Chocolate per bunny 1 lb. 0.05 lb. Spoilage per bunny Rejected products 1 bunny is rejected for each 20 that are of sufficient quality Direct Labor Rate Information 12.00 per hour Average Rate paid to workers $ Health Insurance paid per employee per month (160 hours) Retirement paid to workers Social Security Taxes paid by company 250.00 per month (160 hours) 3% 7.65% Direct Labor Efficiency Information Average time to make a bunny 0.25 hours 0.05 hours Inspection time per bunny Standards: Direct Materials Price Standard (per lb.) Grade on the assignment is 0 out of 5 per lb Direct Materials Usage Standard (per bunny) There is AT LEAST ONE error on this sheet per bunny Direct Labor Rate Standard (per hour) per hour Direct Labor Efficiency Standard (per bunny) hours per bunny SS