Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has...

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Accounting

Abbeville Company manufactures faucets in a smallmanufacturing facility. The faucets are made from brass.Manufacturing has 90 employees. Each employee presently provides 36hours of labor per week. Information about a production week is asfollows:
Standard wage per hr. Standard labor time per faucet Standardnumber of lb. of brass Standard price per lb. of brass Actual priceper lb. of brass Actual lb. of brass used during the week Number offaucets produced during the week Actual wage per hr. Actual hrs.for the week
$15.00 40 min. 3 lb. $2.40 $2.50 14,350 lb. 4,800 $14.40 3,240hrs.
Instructions
Determine (a) the standard cost per unit for direct materialsand direct labor; (b) the di- rect materials price variance, directmaterials quantity variance, and total direct materials costvariance; and (c) the direct labor rate variance, direct labor timevariance, and total direct labor cost variance.

Answer & Explanation Solved by verified expert

3.9 Ratings (402 Votes)

a SC per unit for direct materials Standard unit 3 Lbs Standard price 240 Standard cost 72 SC per unit for DL SL time per faucet Hours 4060 0666667 See Answer

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