P3-uz Company produces leather sandals. The company employs a standard costing system and has the following...

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P3-uz Company produces leather sandals. The company employs a standard costing system and has the following standards in order to produce one pair of sandals: standard quantity 2 leather strips standard price ?? per strip $12 per hour ?? per hour direct materials direct labor 2.5 hours variable overhead 2.5 hours During May, P3-uz purchased leather strips at a total cost of $124, 250 and had direct labor totaling $154,760. During May, P3-uz used 16,300 leather strips in the production of sandals. P3-uz had no beginning inventories of any type for May. At May 31, P3-uz had 600 leather strips remaining in its direct materials inventory. P3-uz Company reported the following variances for May: Direct material price variance Direct labor rate variance $40,525 favorable $27,560 unfavorable $37,240 favorable $ 9,280 unfavorable $60,480 favorable ..... Total direct labor variance Variable overhead spending variance Variable overhead efficiency variance ..... Calculate the number of pairs of sandals produced by P3-uz Company in May. P3-uz Company produces leather sandals. The company employs a standard costing system and has the following standards in order to produce one pair of sandals: standard quantity 2 leather strips standard price ?? per strip $12 per hour ?? per hour direct materials direct labor 2.5 hours variable overhead 2.5 hours During May, P3-uz purchased leather strips at a total cost of $124, 250 and had direct labor totaling $154,760. During May, P3-uz used 16,300 leather strips in the production of sandals. P3-uz had no beginning inventories of any type for May. At May 31, P3-uz had 600 leather strips remaining in its direct materials inventory. P3-uz Company reported the following variances for May: Direct material price variance Direct labor rate variance $40,525 favorable $27,560 unfavorable $37,240 favorable $ 9,280 unfavorable $60,480 favorable ..... Total direct labor variance Variable overhead spending variance Variable overhead efficiency variance ..... Calculate the number of pairs of sandals produced by P3-uz Company in May.

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Total Direct labor Variance Direct labor rate Variance Direct labor efficiency variance So 37240 275... View the full answer