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Calculate the direct manufacturing labor rate variance

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Reference no: EM132032854

Question - Given

Expected production (units)

30,000

Standard DML hours per unit

7.00

Standard DML rate per hour

$25.00

Standard pounds of DM usage per unit

4.00

Standard DM price per pound

$15



Actual

Units produced

27,000

DML hours worked

202,500

Total cost of DML

$4,860,000

Pounds of DM purchased

118,000

Total cost of DM purchased

$1,858,500

Pounds of DM used

101,250

a) Calculate the following variances:

Direct manufacturing labor rate variance

Direct manufacturing labor usage variance

Direct materials price variance

Direct materials usage variance

b) Explain what each of the calculated variances imply about the firm's operations. Be specific!

Direct manufacturing labor rate variance

Direct manufacturing labor usage variance

Direct materials price variance

Direct materials usage variance.

Reference no: EM132032854

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