PLEASE HELP NEED HELP SOON

1. Acme Inc. has the following information available:

Actual price paid for material	$1.00
Standard price for material	$0.90
Actual quantity purchased and used in production	90
Standard quantity for units produced	100
Actual labor rate per hour	$15
Standard labor rate per hour	$14
Actual hours	200
Standard hours for units produced	220

A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers.

Material price variance	$fill in the blank 1	FavorableUnfavorable
Material quantity variance	$fill in the blank 3	FavorableUnfavorable
Labor rate variance	$fill in the blank 5	FavorableUnfavorable
Labor efficiency variance	$fill in the blank 7	FavorableUnfavorable

B. What are some possible causes for this combination of favorable and unfavorable variances?

We paid less for our raw material, and assembly took fewer hours than expected.We paid less for our raw material, and assembly took more hours than expected.We paid more for our raw material, and assembly cost less per hour than expected.We paid more for our raw material, and assembly cost more per hour than expected.

2. Acme Inc. has the following information available:

Actual price paid for material	$1.00
Standard price for material	$0.80
Actual quantity purchased and used in production	110
Standard quantity for units produced	120
Actual labor rate per hour	$14
Standard labor rate per hour	$15
Actual hours	190
Standard hours for units produced	210

A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers.

Material price variance	$fill in the blank 1	FavorableUnfavorable
Material quantity variance	$fill in the blank 3	FavorableUnfavorable
Labor rate variance	$fill in the blank 5	FavorableUnfavorable
Labor efficiency variance	$fill in the blank 7	FavorableUnfavorable

B. What are some possible causes for this combination of favorable and unfavorable variances?

We paid less for our raw material, and assembly took fewer hours than expected.We paid less for our raw material, and assembly took more hours than expected.We paid more for our raw material, and assembly took fewer hours than expected.We paid more for our raw material, and assembly took more hours than expected.

2. Acme Inc. has the following information available:

Actual price paid for material	$1.00
Standard price for material	$0.80
Actual quantity purchased and used in production	110
Standard quantity for units produced	120
Actual labor rate per hour	$14
Standard labor rate per hour	$15
Actual hours	190
Standard hours for units produced	210

A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers.

Material price variance	$fill in the blank 1	FavorableUnfavorable
Material quantity variance	$fill in the blank 3	FavorableUnfavorable
Labor rate variance	$fill in the blank 5	FavorableUnfavorable
Labor efficiency variance	$fill in the blank 7	FavorableUnfavorable

B. What are some possible causes for this combination of favorable and unfavorable variances?

We paid less for our raw material, and assembly took fewer hours than expected.We paid less for our raw material, and assembly took more hours than expected.We paid more for our raw material, and assembly took fewer hours than expected.We paid more for our raw material, and assembly took more hours than expected.

3.

Acme Inc. has the following information available:

Actual price paid for material	$1.00
Standard price for material	$1.20
Actual quantity purchased and used in production	110
Standard quantity for units produced	140
Actual labor rate per hour	$14
Standard labor rate per hour	$16
Actual hours	200
Standard hours for units produced	210

A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers.

Material price variance	$fill in the blank 1	FavorableUnfavorable
Material quantity variance	$fill in the blank 3	FavorableUnfavorable
Labor rate variance	$fill in the blank 5	FavorableUnfavorable
Labor efficiency variance	$fill in the blank 7	FavorableUnfavorable

B. What are some possible causes for this combination of favorable and unfavorable variances?

We paid less for our raw material, and assembly took fewer hours than expected.We paid less for our raw material, and assembly took more hours than expected.We paid more for our raw material, and assembly took fewer hours than expected.We paid more for our raw material, and assembly took more hours than expected.