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You have been supplied with the following information: Budgeted Direct Raw materials 15 square yards...

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Accounting

You have been supplied with the following information:

Budgeted Direct Raw materials 15 square yards at $10 per yard Budgeted Direct labor 5 hours at $15

During March, the firm produced 2,000 units and used 15,000 square yards of fabric costing $70,000. Direct labor totaled 7,000 hours for $85,000.

Required:

a. Compute the direct materials price and efficiency variances for the quarter. b. Compute the direct manufacturing labor price and efficiency variances for the quarter.

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