Question: What is the direct materials efficiency variance JUO Industries sets standard costs for its production. The following are the standard requirements per unit: . Direct

What is the direct materials efficiency variance

JUO Industries sets standard costs for its production. The following are the standard requirements per unit: . Direct materials: 1.2 pounds per unit at $10 per pound . Direct labor: 1.8 hours per unit at $20 per hour During the quarter, JUO produced 3,500 units. At the end of the quarter, an examination of the direct materials records showed that the company used 8,200 pounds of direct materials, and the actual total materials cost was $82,000. What is the direct materials efficiency variance

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!

A distillate containing 45 wt% isopropyl alcohol, 50 wt% diisopropyl ether, and 5 wt% water is obtained from the heads column of an isopropyl alcohol finishing umt. The company desires to recover the...

Exercise 23-12 Direct materials and direct labor variances P3 Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (10 lbs. $3 per lb.)....

(Round your answers to two decimal places) 1 Data table Medium speed bump Large speed bump 12 $ 1.00 $ 1.30 13 1.50 Direct materials information Standard pounds per unit Standard price per pound...

Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours....

ACC241 Summer Session A 2020 Katrin Schiel & 1 06/23/20 1:16 PM Homework: HW #9 - Chapter 11 Save HW Score: 65%. 6.5 of 10 pts Question Help Score: 0.5 of 1 pt 7 of 107 complete E11-20A (similar to)...

One of the products that South African Golden Brewers manufactures here in South Africa is the Three Brothers wine. The Three Brothers wine is derived through the manufacturing process, from Cape...

I need help with doing this assignment. I am having a hard time solving this problem? The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget...

Please help me with the following questions. you are required to submit supporting calculations on all questions that require calculations. Some questions do not require calculations. If a question...

1. Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct materials standard...

NEED HELP PLEASE!!!! Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct...

Question 15) Mountain Sports Equipment Company projected sales of 82,000 units at a unit sales price of $12 for the year Actual sales for the year were 76,000 units at $14.00 per unit. Variable costs...

The city of Springvale levies a tax on the value of real property located within its city limits. The tax equals 2 percent of the propertys assessed value up to $500,000 plus 4 percent of the value...

1. Describe the experiential learning process that companies mentioned in this case study apply to learn from their mistakes and failures. 2. What perceptual problems do managers need to overcome...

Chris, graduating from a mainland university, entered the Master of Global Management (MGM) Program at the University of Hong Kong in the fall of 2022. The tuition of the MGM program for 2022-23 was...

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...