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21. The Alpha Company produces toys for national distribution. Standards for a particular toy are:...

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Accounting

21. The Alpha Company produces toys for national distribution. Standards for a particular toy are: Materials: 12 grams per unit at 56 cents per gram. Labor: 2 hours per unit at $12.75 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 14,000 grams were purchased and used at a total cost of $7,140. Labor: 2,500 hours worked at a total cost of $33,000. a) Calculate Material Price variance b) Calculate materials quantity variance c) Calculate labor rate variance d) Calculate The labor efficiency variance (15)

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