Vintage Dresses Inc. manufactures dresses in a small manufacturing facility. Manufacturing has 20 employees. Each employee presently

Question:

Vintage Dresses Inc. manufactures dresses in a small manufacturing facility. Manufacturing has 20 employees. Each employee presently provides 35 hours of productive labor per week. Information about a production week is as follows:

Standard wage per hr. $10.80
Standard labor time per dress 12 min.
Standard number of yds. of fabric per dress 3.8 yds.
Standard price per yd. of fabric $2.90
Actual price per yd. of fabric $2.75
Actual yds. of fabric used during the week 12,100 yds.
Number of dresses produced during the week 3,250
Actual wage per hr. $11.00
Actual hrs. per week 700 hrs.

Instructions
Determine
(a) The standard cost per dress for direct materials and direct labor;
(b) The price variance, quantity variance, and total direct materials cost variance; and
(c) The rate variance, time variance, and total direct labor cost variance.

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Related Book For  book-img-for-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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