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ASSIGNMENT-WEEK 4 London Enterprises uses a standard cost system in its widget division. The...

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Accounting

ASSIGNMENT-WEEK 4
London Enterprises uses a standard cost system in its widget division. The following standard
unit costs apply to the manufacture of widgets in June:
Direct Materials
Direct Labor
Variable OH
Fixed OH
Normal production
120 lbs @ $1.50 perlb.
3 hrs $$15.00 per hr.
$6.00 per direct labor hour
$54,000 total for month
1,800 units per month
Actual production data per unit for June was:
Direct Materials
Direct Labor
Variable OH
Fixed OH
Actual production
116 lbs @$1.65 per lb.
3.1 hrs @$15.00 per hr.
$25,860 total for month
$54,000 total for month
1,650 units
Required:
What is the budgeted fixed overhead application rate for June?
What is the direct materials quantity variance for June?
What is the direct materials price variance for June?
What is the direct labor rate variance for June?
What is the direct labor efficiency variance for June?
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