Reference no: EM132212959

Question: Possible causes for price and efficiency variances. You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. The choco- latier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill. 12 Actual Boxes produced 10,000 Direct materials used in production 2,150,000 g Actual direct material cost 60,200 euro Actual direct manufacturing labor-hours 1,100 Actual direct manufacturing labor cost 12,650 euro Standards Purchase price of direct materials 0.03 euro/g Materials per box 200 g Wage rate 12 euro/hour Boxes per hour 10 Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June.