Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. u1, lp to sell all units produced at practical and

U1, LP to sell all units produced at practical and theore CITU ps from Incomplete...

70.2K

Verified Solution

Question

Accounting

image
U1, LP to sell all units produced at practical and theore CITU ps from Incomplete Data Xcel local home building supply PROBLEM 10-34 Materials and Labour Variances; Computations from Ines [LOI, LO2, LO3] Grand River Manufacturing produces a metal flange that it sells to several local he retailers. The company has set standards as follows for materials and labour: Direct Materials Direct Labour ? hours Standard quantity or hours per unit ........ Standard price or rate......... Standard cost per unit. . . . . . . . . . . . . . . . 1.5 kilograms $3 per kilogram $4.50 $? per hour $? During the past month, the company purchased 1,500 kilograms of direct materials at a costo $4,200. All of this material was used in the production of 840 units of product using 425 hours of direc labour. Direct labour cost totalled $4,675 for the month. The following variances have been computed: Labour rate variance........ Total labour variance ..... Materials quantity variance..... $425 U $375 F $75 U

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students