Compute the direct materials price and quantity variances

Assignment Help Accounting Basics

Reference no: EM131299446

Exercise

Direct materials and direct labor variances

Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

Direct materials (15 lbs. @ $4 per lb.) $60

Direct labor (2 hrs. @ $16 per hr.) 32

During June the company incurred the following actual costs to produce 8,900 units.

Direct materials (136,800 lbs. @ $3.80 per lb.)		$	519,840
Direct labor (22,300 hrs. @ $16.10 per hr.).			359,030

(1) Compute the direct materials price and quantity variances.

Reference no: EM131299446

Questions Cloud

Management plan including contingency plans : Develop key success factors, budget, and forecasted financials, including a break-even chart. Create a risk management plan including contingency plans for the identified risks.

Compute the direct labor rate variance : Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.

Formulate a linear programming model to solve given problem : devise a busing plan that will minimize the total number of student miles bused.- Formulate a linear programming model to solve this problem.

What is the correlation between unemployment and inflation : How can you support your position?Please answer the following question by integrating research, examples and opinion. Your answer should be no less than 300 words in length.Proper citation, referencing and material integration is required.

Compute the direct materials price and quantity variances : Compute the direct materials price and quantity variances - Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

Declare a structure variable using this structure type : Once the file has been read, the program should display the average miles per gallon achieved by the complete fleet of cars.

Law of diminishing marginal productivity : What is the law of diminishing marginal productivity? How does the law of diminishing marginal productivity affect the cost of productions? Can you provide an example from your workplace?

Describe what a low pass filter would do : For an image with pepper noise, presuming it is desirable to reduce the pepper noise, which operations, in which sequence, would you apply? Find an image, add pepper noise, and demonstrate your results.

Implement a set of classes for a firm : Implement (write and test code) a set of classes for a firm. The firm has three kinds of employees. All employees have the following information need to be recorded name, SSN, title, base salary.

User Account

All Pages