Question: Please answer the blue highlighted boxes Exercise 10-26 Straightforward Calculation of Variances (LO 10-1, 10-3) During June, Danby Company's material purchases amounted to 8,100 pounds

Please answer the blue highlighted boxesPlease answer the blue highlighted boxes Exercise 10-26 Straightforward Calculation of Variances

Exercise 10-26 Straightforward Calculation of Variances (LO 10-1, 10-3) During June, Danby Company's material purchases amounted to 8,100 pounds at a price of $8.00 per pound. Actual costs incurred in the production of 1,600 units were as follows Direct labor: Direct material: $135,975 ($18.50 per hour) 39,200 ($8.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Direct Material: Quantity, 4 hours per unit Rate, $18.40 per hour Quantity, 3 pounds per unit Price, $7.70 per pound Required: Compute the direct-material price and quantity variances, the direct-material purchase price variance, and the direct-labor rate and efficiency variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) Direct-material price variance Direct-material quantity variance Direct-material purchase price variance Direct-labor rate variance Direct-labor efficiency variance nfavorable Unfavorable Unfavorable nfavorable nfavorable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!