January 29, 2015

Homework Help: managerial accounting

Posted by jennifer on Monday, November 15, 2010 at 11:09pm.

The following direct materials and direct labor data pertain to the operations of Solario Manufacturing Company for the month of August

Actual labor rate $13 per hour Actual hours incurred and used 4,200 hours
Actual materials price $128 per ton Actual quantity of materials purchases and used 1,225 tons
Standard labor rate $12 per hour Standard hours used 4,300 hours
Standard materials price $130 per ton Standard quantity of materials used 1,200 tons
Compute the total, price, and quantity variances for materials and labor.

Total materials variance $ UnfavorableFavorable
Materials price variance $ FavorableUnfavorable
Materials quantity variance $ UnfavorableFavorable
Total labor variance $ FavorableUnfavorable
Labor price variance $ UnfavorableFavorable
Labor quantity variance $ UnfavorableFavorable

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