Question

Direct materials: 7 microns per toy at $0.32 per micron

Direct labor: 1.2 hours per toy at $6.80 per hour


During July, the company produced 4,600 Maze toys. Production data for the month on the toy follow:


Direct materials: 70,000 microns were purchased at a cost of $0.31 per micron. 29,750 of these microns were still in inventory at the end of the month.

Direct labor: 6,020 direct labor-hours were worked at a cost of $43,344.


What is the material quantity variance, labor rate variance, and labor efficiency variance?

Related Questions

If one unit of Product X used $1.5 of direct materials and $2 of direct labor, sold for $11, and was... The following direct materials and direct labor data pertain to the operations of Solario Manufactur... The Thompson Company uses standard costing and has established the following direct material and dir... Raw materials$ 14.00 Direct labor (2 direct labor hours × $8.00 per hour)16.00 Manufacturing overhea...