70.2K
Verified Solution
Link Copied!
During March 2012, the following activity was recorded by the company relating to the production of typos.
1. The company produced 9,000 units during the month.
2. A total of 24,000 pounds of materials were purchased at a cost of $66,000.
3. A total of 24,000 pounds of materials were used in production.
4. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000.
Calculate the following variances for March for Malone, Inc.
(a) Materials price variance
(b) Materials quantity variance
(c) Labor price variance
(d) Labor quantity variance
Need help on how to work out this question without budget datas provided!!
Answer & Explanation
Solved by verified expert
