Question
Standards for producing one unit of product: Standard Quantity Direct Materials 2lbs Direct labor 2 hours...
Standards for producing one unit of product:
Standard
Quantity
Direct Materials 2lbs
Direct labor 2 hours
Other data:
Materials actually purchased
Material price variance
Materials actually used to produce 300 units of output
Labor efficiency variance
Standard
Price
$1.80 per lbs
$18 per hour
4,500 lbs
$450 unfavorable
780 lbs
$90 unfavorable
a. The material purchase price per pound.
b. The material quantity variance.
c. The actual number of hours worked.
Homework Answers
Answer #1
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
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