XYZ Company manufactures tables A standard cost card for making a table shows the below Standard cost per table Direct Material 4 sq ft $3 sq foot $12 Direct labor 2 hours $8 hr sixteen Total Prime Costs $28 In November, the company produced 1,000 tables Actual production costs and quantities were ...

XYZ Company manufactures tables. A standard cost card for making a table shows the below: Standard cost

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XYZ Company manufactures tables. A standard cost card for making a table shows the below:

Standard cost per table:

Direct Material: 4 sq. ft. @ $3/sq. foot	$12
Direct labor: 2 hours @ $8/hr	sixteen
Total Prime Costs	$28

In November, the company produced 1,000 tables. Actual production costs and quantities were:

Direct Material: 3,900 sf @ $3.10/sq. foot	$12
Direct labor: 2,300 hours at $7.80/hour	sixteen

Required:

Calculate price and quantity variances for direct material and direct labor.

Related Book For answer-question

Cost Accounting

ISBN: 978-0759338098

14th edition

Authors: William K. Carter

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Posted Date: Apr 27, 2023 08:30 AM

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XYZ Company manufactures tables. A standard cost card for making a table shows the below: Standard cost

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Cost Accounting

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