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Exercise 23-12(Static) Direct materials and direct labor variances LO P3 Camila Company has set...

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Accounting

Exercise 23-12(Static) Direct materials and direct labor variances LO P3
Camila Company has set the following standard cost per unit for direct materlals and direct labor.
Direct materials (10 pounds $3 per pound)
oirect labor (2 hours @ $12 pen houn)
30
24
During June the company incurred the following actual costs to produce 9.000 units.
Direct materials (92,00 pounds @ $2.95 per pound)
271,400
226,540
Direct labor (18,800 hours @ $12, as per hour)
AR= Actual Rate
SR= Standard Rate
AQ= Actual Quantity
SQ= Standard Quantity
AP=Actual Price
SP= Standard Price
AQ= Actual Quantity
SQ= Standard Quantity
AP = Actual Price
SP= Standard Price
(1) Compute the direct materials price and quantity variances:
(2) Compute the direct labor rate varlance and the direct labor efficiency varlance.
Complete this question by entering your answers in the tabs belowy
Required 1
Required 2
Compute the direct materials price and quantity variances.
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