Question: I need help and Please answer in order and show your work this is just example!! M R 3. (10 points) The following standards have
M R 3. (10 points) The following standards have been established for a raw material used to make product 192 Standard quantity of the material per unit of output. 6 pounds Standard price of the material......... $2,25 per pound Standard hours of labor per unit of output 3 hours Standard rate of the labor per hour $8 per hour The following data pertain to a recent month's operations: Actual material purchased 13,600 pounds Actual cost of material purchased $31,620 Actual material used in production 13,600 pounds Actual output 2,300 units of product 192 Actual labor used 7.100 hours Actual total labor cost $57,150 Required What is the materials price variance for the month? b. What is the materials quantity variance for the month? c. What is the labor rate variance for the month? d. What is the labor efficiency variance for the month
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
