PR $10-33($Algo$)$ Direct$-$Material and Direct$-$Labor Variances $($LO $10-1,10-3)$

New Jersey Valve Company manufactured $8,200$ units during January of a control valve used by milk processors in its Camden plant.

Records indicated the following:

Direct labor

$41,900$ hour at $$14\mathrm{.}50$ per hour

$(33,000$ pounds at $$3\mathrm{.}00$ per pound

$23,600$ pounds

The control valve has the following standard prime costs:

Direct material

Direct labor

Standard prime cost per unit

Required:

Prepare a schedule of standard production costs for January, based on actual production of $8,200$ units.

For the month of January, compute the following variances.

Complete this question by entering your answers in the tabs below.

For the month of January, compute the following variances.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter $"0"$ for no effect

$($i$.$e$.,$ zero variance$).$