ework, Ch 10 Dawson Toys, Ltd. produces a toy called the Maze. The company has r

Question

ework, Ch 10 Dawson Toys, Ltd. produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.33 per micron Direct labor: 1.3 hours per toy at $710 per hour During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: Direct materials 75.000 microns were purchased ata end of the month Direct labor 6,740 direct labor-hours were worked at a cost of $51,898. cost of $0.30 per micron. 27000 of these microns were still Il Inventory at the es 1. Compute the following variances for July: (Indicote the effect of each veriance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole doller amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances.

Explanation / Answer

4044A

Units Standard Cost Units Actual Direct Materials 38400 $      12,672.00            48,000 $ 14,400.00 Labour 6240 $      44,304.00              6,740 51898

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