Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. huron company produces a commercial cleaning compo

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct...

70.2K

Verified Solution

Question

Accounting

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below:
Standard Quantity or Hours Standard Price or Rate Standard Cost
Direct materials 4.6 pounds $ 2.50 per pound $ 11.50
Direct labor 0.2 hours $ 18.00 per hour $ 3.60
During the most recent month, the following activity was recorded:
Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.
The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.)
750 hours of direct labor time were recorded at a total labor cost of $14,925.
Required:
Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Approximately how much of the water found on Earth is salty (non-fresh)? A. 35%B. 97%C....

Chemistry
1.2K views

Would a molecular orbital diagram be appropriate to describe bonding in Ti? Explain.

Medical Sciences
1.2K views

Explain glomerular filtration and the mechanisms that control its pressure and rate. Why is GFR critical...

Psychology
1.2K views

What are 4 emotion regulation techniques? Explain each with a concrete example.

Advance Math
1.2K views

Prove p ? (q ? r), q ? s, r ? s ? p ? s

Accounting
1.2K views

How defined benefit, defined contribution, and postretirement benefit plans are reported on financial statements?

Physics
1.2K views

A system of two capacitors is shown in the figure If Ve V 20 V...

Calculus
1.2K views

a calculator to evaluate 29C plify your answer Type an integer or a fraction

Calculus
1.2K views

5 sketch the curve and find a polar equation b y 3 a y x...

Algebra
1.2K views

What is the y intercept of the graph of y T X 5 X x...

Accounting
1.2K views

Padre, Inc, buys 80 percent of the outstanding common stock of Sierra Corporation on January...

Accounting
1.2K views

Acme Company's production budget for August is 17,500 units and includes the following component unit...