Question

# Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg...

Jay Levitt Company budgeted the following cost standards for the current year:
 Direct materials (2 kg of plastic at \$5 per kilogram) \$10.00 Direct labour (2 hours at \$12 per hour) 24.00 Variable manufacturing overhead 11.45 Fixed manufacturing overhead 7.05 Total standard cost per unit \$52.50

Actual costs for producing 2,710 units were as follows:
 Direct materials used 5,990 kg Direct materials purchased (6,440 kg) \$30,912 Direct labour (6,820 hours) \$68,882 Variable manufacturing costs \$32,300 Fixed manufacturing costs \$17,600
Calculate the materials price variance for materials purchased.
 Materials price variance \$enter the materials price variance select a type of the materials price variance FavourableUnfavourableNeither favourable nor unfavourable
Calculate the materials quantity variance.
 Materials quantity variance \$enter the materials quantity variance select a type of the materials quantity variance Neither favourable nor unfavourableUnfavourableFavourable
Calculate the labour price variance. (Round answer to the nearest whole dollar, e.g. 5,275.)
 Labour price variance \$enter the labour price variance rounded to the nearest whole select a type of the labour price variance Neither favourable nor unfavourableUnfavourableFavourable
Calculate the labour quantity variance.
 Labour quantity variance \$enter the labour quantity variance select a type of the labour quantity variance

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