G Google G blackboard rku-Go 7 User Dashboard a New Tab Search Nuwtrat North Con

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G Google G blackboard rku-Go 7 User Dashboard a New Tab Search Nuwtrat North Connect Homework Help Save & Ch Exercise 10-7 Direct Materials Variances [LO10-1 Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below Quantity r Standard PriceSt 5,60 pounds $3.60 per 0-40 hours Direct labor $7.00 per During the most recent month, the following activity was recorded a. Ten thousand eight hundred pounds of material were purchased at a cost of $2.90 per pound b. The company produced only 1,080 units, using 9720 pounds of material. (The rest of the material purchased remained in raw materials inventory) ?532 hours of drect labor time were recorded at a total labor cost of$6384 Compute the materials price and quanthy variances for the month (Indicete the effect of each veriance by selecting "F" for favorable. "U for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values. Do not round intermediate colculations.) Prey 3 of5 Naxt 8 9

Explanation / Answer

Material price variance = (3-2.90)*10800 = 1080 F

Material quantity variance = (1080*5.6-9720)*3 = 11016 U

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