Joy Draperies manufactures curtains. To complete a curtain, Jill requires the following inputs: Direct materials standard:...
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Joy Draperies manufactures curtains. To complete a curtain, Jill requires the following inputs: Direct materials standard: 5 square yards at $5.90 per yard Direct manufacturing labor standard: 6 hours at $11.80 per hour During the second quarter, Joy Draperies made 1,700 curtains and used 8,000 square yards of fabric costing $45,600. Direct manufacturing labor totaled 10,700 hours for $124,120. 1- Compute the direct material price variance for the quarter. 2- Compute the direct material efficiency variance for the quarter. 3- Compute the flexible-budget variance for direct material for the quarter. Joy Draperies manufactures curtains. To complete a curtain, Jill requires the following inputs: Direct materials standard: 5 square yards at $5.90 per yard Direct manufacturing labor standard: 6 hours at $11.80 per hour During the second quarter, Joy Draperies made 1,700 curtains and used 8,000 square yards of fabric costing $45,600. Direct manufacturing labor totaled 10,700 hours for $124,120. 1- Compute the direct material price variance for the quarter. 2- Compute the direct material efficiency variance for the quarter. 3- Compute the flexible-budget variance for direct material for the quarter.
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To calculate the variances we will use the following formulas Direct Material Price Variance DirectM... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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