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Salter Company has the following information related to its production. Use the information below to...

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Question

Accounting

Salter Company has the following information related to its production. Use the information below to answer the required questions.

Salter is in the business of producing fishing poles. They expect that to produce their 250 poles, 2 hours each of direct labor will be required at a cost of $19 per hour. At the end of the period, Salter finds that the 250 units required 2.1 direct labor hours for each pole and that workers were paid $18.50 per hour.

REQUIRED:

1) What is the total Variance in the DL costs for the fishing poles?

2) What is the Price Variance in the DL costs?

3) What is the Quantity Variance in the DL costs

Total Variance
Actual Costs - Standard Costs
Price Variance
Actual Costs - Budgeted Costs
Quantity Variance
Budgeted Costs - Standard Costs

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