The following data relates to Merrick Ltd., a single product company who manufactures vaccines: Variances for October: DIRECT...

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Accounting

The following data relates to Merrick Ltd., a single productcompany who manufactures vaccines:
Variances for October:
DIRECT MATERIAL QUANTITY VARIANCE 2400UNFAVORABLE
MATERIALS VARIANCE (TOTAL) 600FAVORABLE
DIRECT LABOR EFFICIENCY VARIANCE 9000FAVORABLE
Actual materials and labor costs forOctober:
Direct materials purchased: 6,000 pounds @ $5.50 per pound $33,000
Direct labor cost: ? hours @ ? per hour $57,000
Materials and labor standards to manufacture oneunit of vaccine:
Quantity/hours Price/rate Standard cost
Direct materials ? pounds ? per pounds ? pounds
Direct labor 2.5 hours $18 per hour $45
Merrick Ltd. manufactured and sold 1,400 units of vaccinesduring October. There were no materials and finished goodsinventories at the start and end of the October.
Required:
Compute standard price per pound of materials.
Compute standard quantity of materials allowed for actualproduction.
Compute standard quantity of direct materials allowed for oneunit of product.
Compute actual direct labor cost per hour for October.
Compute direct labor rate variance and indicate whether it isfavorable or unfavorable.

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Compute standard price per pound of materials Direct Material Price Variance Total Material Variance Direct Material Quantity Variance Direct Material Price Variance 600 2400 3000 F Direct Material See Answer

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Direct materials purchased: 6,000 pounds @ $5.50 per pound	$33,000
Direct labor cost: ? hours @ ? per hour	$57,000

	Quantity/hours	Price/rate	Standard cost
Direct materials	? pounds	? per pounds	? pounds
Direct labor	2.5 hours	$18 per hour	$45