Woodard Company produced 2,000 plastic desk runners during July using 900 direct labor hours and...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Woodard Company produced 2,000 plastic desk runners during July using 900 direct labor hours and purchased and used 6,200 pounds of plastic. Its materials and labor standards are: Direct materials (3 pounds @ $1.50) $4.50 Direct labor (0.5 hours @ $20.00) 10.00 The materials price variance was a favorable $1,240, and the labor rate variance was an unfavorable $1,800. Complete the Following: (Round the rates to two decimal places and variances to the nearest dollar.) A. The actual price per lb. of materials is _____. B. The actual labor rate is _____. C. The materials usage variance is _____. [Label as favorable (F) or unfavorable (U).] D. The labor efficiency variance is _____. [Label as favorable (F) or unfavorable (U).
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.