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Question 1 Partially correct Mark 8.00 out of 14.00 P Flag question Material and Labor...

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Accounting

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Question 1 Partially correct Mark 8.00 out of 14.00 P Flag question Material and Labor Variances The following actual and standard cost data for direct materials and direct labor relate to Hadley Company's production of 2,000 units of a product: Standard Costs Direct material 3.900 lbs. $5.20 4,000 lbs. @ $5.10 Direct labor 6.200 hrs. @ 58.40 6,000 hrs. 58.60 Actual Costs Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost 19,890 X Split cost 19,890 Standard cost $ 20.400 a. Materials price 780 KU b. Materials efficiency 5 510 F $ $ $ Labor Variances Actual cost $ 52,080 Split cost 53,940 x Standard cost $ 52,200 X C. Labor rate $ 1,860 XF d. Labor efficieny s 170 % 0 Check You have correctly selected 8. Partially correct Marks for this submission: 8.00/14.00

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