E$9-15($Algo$)$ Determining Actual Costs, Standard Costs, and Variances $[$LO $9-3,9-4]$

Amber Company produces iron table and chair sets. During October, Amber's costs were as follows:

Actual purchase price

Actual direct labor rate

Standard purchase price

Standard quantity for sets produced

Standard direct labor hours allowed

Actual quantity purchased in October

Actual direct labor hours

Actual quantity used in october

Direct labor rate variance

$$2\mathrm{.}80$ per pound

$$8\mathrm{.}00$ per hour

$$2\mathrm{.}60$ per pound

$1,020,000$ pounds

$21,000$

$1,265,000$ pounds

$15,000$

$1,050,000$ pounds

$$6,000F$

Required:

Calculate the total cost of purchases for October.

Compute the direct materials price variance based on the actual quantity purchased.

Calculate the direct materials quantity variance based on the actual quantity used.

Compute the standard direct labor rate for October.

Compute the direct labor efficiency variance for October.

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

Req $1$

Req $2$ and $3$

Req $4$

Req $5$

Calculate the total cost of purchases for October.

Total Purchases