Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below) A manufactured product has the following information for June. Standard 44,500 1bs. $8.10 per lb. Direct materials Direct labor Overhead Units manufactured (5 lbs. $8 per 1b.) (2 hrs. $16 per hr 17,300 hrs. $16.50 per hr. (2 hrs. $11 per hr.) $199,600 8,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price

Explanation / Answer

Note :

SQ = 5 lbs * 8,800 units = 44,000

Actual Cost Standard Cost AQ * AP AQ * SP SQ * SP 44,500 * $8.10 44,500 * $8 44,000 * $8 = $360,450 = $356,000 = $352,000 $4,450 $4,000

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