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$64,300$ frisbees per month:

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Requirement $1.$ Compute the cost and efficiency variances for direct materials and direct labor.

Variance

The direct materials cost variance is

The direct materials efficiency variance is

The direct labor cost variance is

The direct labor efficiency variance is

Requirement $2.$ Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variar

Begin by journalizing the purchase of direct materials, including the related variance. $($Prepare a single compound journal entry.$)$

Now, joumalize the usage of direct materials, including the related variance. $($Prepare a single compound journal entry.$)$

Journalize the incurrance and assignment of direct labor costs, including the related variances. $($Prepare a single compound journal

$\backslash$table$[[$Accounts$,$Debit,Credit$]]$

Standard Cost Data

$\backslash$table$[[$Direct Materials $(0\mathrm{.}5$ lbs @ $$0\mathrm{.}25$ per pound$),,,0\mathrm{.}13],[$Direct Labor $(3$ minutes @ $$0\mathrm{.}10$ per minute$),,,0\mathrm{.}30],[$Manufacturing Overhead:$],[$Variable $(3$ minutes @ $$0\mathrm{.}04$ per minute$),s,0\mathrm{.}12,],[$Fixed $(3$ minutes @ $$0\mathrm{.}15$ per minute$),,0\mathrm{.}45,0\mathrm{.}57],[$Total cost per unit,,,$1\mathrm{.}00]]$

Additional Informatiion.

Actual cost and production information for June of the current year are as follows:

a$.$ There were no beginning or ending inventory balances. All expenditures were on account.

b$.$ Actual production and sales were $67,000$ frisbees.

c$.$ Actual direct materials usage was $9,000lbs.$ at an actual cost of $$0\mathrm{.}15$ per $lb.$

d$.$ Actual direct labor usage was $200,000$ minutes at a total cost of $$24,000.$

e$.$ Actual overhead cost was $$4,000$ variable and $$32,000$ fixed.

f$.$ Selling and administrative costs were $$120,000.$

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