Question: Please help, I am stuck on this question,and only one attempt left :( Question 25 Jay Levitt Company budgeted the following cost standards for the
Please help, I am stuck on this question,and only one attempt left :(

Question 25 Jay Levitt Company budgeted the following cost standards for the current year; Direct materials (2 kg of plastic at $5 per kilogram] $10.00 Direct labour (2 hours at $12 per hour) 24.00 Variable manufacturing overhead 11.65 Fixed manufacturing overhead 6.50 Total standard cost per unit $52.15 Actual costs for producing 2,650 units were as follows: Direct materials used 6,000 kg Direct materials purchased (6,570 kg) $32,193 Direct labour (6,850 hours) $66,445 Variable manufacturing costs 532,300 Fixed manufacturing costs 517,600 Calculate the materials price variance for materials purchased. Materials price variance Favourable Neither favourable nor unfavourable Calculate the materials quantity variance. Unfavourable Materials quantity variance Calculate the labour price variance. (Round answer to the nearest whole dollar, e.g. 5,275.) Labour price variance s Calculate the labour quantity variance. Labour quantity variance S
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
