Required information [The following information applies to the questions displayed below.) A manufactured product has...
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Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Actual (5 lbs. @ $8 per lb.) 45,108 lbs. @ $8,20 per lb. (3 hrs. @ $15 per hr.) 26,400 hrs. $15.50 per hr. (3 hrs. $12 per hr.) $326,700 8,900 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June, Indicate whether the cost variance is favorable or unfavorable. Total cost variance Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @ $8 per lb.) 45,180 lbs. $8.20 per lb. Direct labor (3 hrs. @ $15 per hr.) 26,400 hrs. @ $15.50 per hr. Overhead (3 hrs. $12 per hr.) $326,700 Units manufactured 8,900 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price SP Standard Price Actual Cost Standard Cost
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