BlayCo's standard and actual costs per unit for the most recentperiod, during which 600...

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Accounting

BlayCo's standard and actual costs per unit for the most recentperiod, during which 600 units were actually produced, are givenbelow:
Standard Quantity/Hours: Materials- 4 feet per unit,Labor -unit 2 hours, VariableMOH- 2 hours per unit
Standard Price/Rate:Materials $2.00 per feet,Labor-$8.00foot per hour, VariableMOH- $3.00 per hour
Actual Quantity/Hours: Materials-1,000 feet, Labor-800 hours, VariableMOH- 800 hours
Actual Total Cost: Materials-$1,500,Labor-$4,000, VariableMOH-$2,000
Required (show your work): From the foregoing information,compute the following variances. Show whether the variance isfavorable (F) or unfavorable (U):
Thank you.

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Solution All the variances are calculated as below Direct Material Price Variance Actual Price 1500 1000 feet 150 per foot Standard Price 200 per foot Variance or Difference in Price 050 per foot x Actual Quantity PURCHASEDUSED 1000 foot Direct Material Price Variance 500 Favorable Direct Material QuantityEfficiencyUsage Variance Standard Quantity Allowed for actual production Actual ProductionActivity 600 Units x Allowed Standard See Answer

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In: AccountingBlayCo's standard and actual costs per unit for the most recentperiod, during which 600 units...BlayCo's standard and actual costs per unit for the most recentperiod, during which 600 units were actually produced, are givenbelow:Standard Quantity/Hours: Materials- 4 feet per unit,Labor -unit 2 hours, VariableMOH- 2 hours per unitStandard Price/Rate:Materials $2.00 per feet,Labor-$8.00foot per hour, VariableMOH- $3.00 per hourActual Quantity/Hours: Materials-1,000 feet, Labor-800 hours, VariableMOH- 800 hoursActual Total Cost: Materials-$1,500,Labor-$4,000, VariableMOH-$2,000Required (show your work): From the foregoing information,compute the following variances. Show whether the variance isfavorable (F) or unfavorable (U):Thank you.