Marcy's unit manufactured 16,000 units of product that had standard materials cost of 2 lbs...
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Accounting
Marcy's unit manufactured 16,000 units of product that had standard materials cost of 2 lbs at $1.70 per lb. and a standard labor cost of 2 hours per unit at $9.40 per hr. Actual materials purchased and used amounted to 32,200 lbs at $1.60 per pound, while actual direct labor consisted of 32,200 hrs at a total labor cost of $305,900.
a. Compute total materials variance, materials price variance, and the materials usage variance.
b. Compute the total labor variance, the labor rate variance, and the labor efficiency variance.
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