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Compute the variances for the month of may

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Reference no: EM132752323

During May, Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.

Direct material purchased: 18,000 yards at $1.38 per yard$24,840
Direct material used: 9,500 yards at $1.38 per yard 13,110
Direct labor: 2,100 hours at $9.15 per hour 19,215

The standard prime costs for one unit of Stylex are as follows:

Direct material: 20 yards at $1.35 per yard. $27
Direct labor: 4 hours at $9.00 per hour 36
Total standard prime cost per unit of output $63

Required:

Problem 1: Compute the following variances for the month of May. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).

Reference no: EM132752323

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