The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used
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Question:
The following information relates to production activities of Mercer Manufacturing for the year.
Actual direct materials used | 16,800 pounds at $4.45 per pound |
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Actual direct labor used | 17,435 hours at $27 per hour |
Actual units produced | 31,600 |
Standard quantity and price per unit for direct materials | 0.50 pound at $4.40 per pound |
Standard quantity and rate per unit for direct labor | 0.50 hour at $28 per hour |
AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
(1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Required 1
- Required 2
Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
Actual Cost | Standard Coost | ||||||||
$ 0 | $ 0 | ||||||||
$ 0 | |||||||||
0 | |||||||||
Compute the direct labor rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
Actual Cost | Standard Coist | ||||||||
x | |||||||||
$ 0 | $ 0 | ||||||||
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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