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  1. business
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  3. manufacture of 74,000 units of product were as fol

manufacture of 74,000 units of product were as follows: \table[[,Standard Costs,Actual Costs],[Direct materials,185,000lbs....

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Accounting

manufacture of 74,000 units of product were as follows:
\table[[,Standard Costs,Actual Costs],[Direct materials,185,000lbs. at $5.80 per lb.,183,200lbs. at $5.60 per lb.],[Direct labor,18,500 hrs. at $16.90 per hr.,18,930hrs, at $17.10 per hr.],[Factory overhead,\table[[Rates per direct labor hr., based on 100% of normal],[capacity of 19,310 direct labor hrs.:]],],[Variable cost, $3.60,$65,930 variable cost],[Fixed cost, $5.70,$110,067 fixed cost]]
Each unit requires 0.25 hour of direct labor.
Required:
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
\table[[Direct Materials Price Variance,$,Favorable
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