Reference no: EM131101870
Morro Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $225 per board. This includes 30 pounds of direct materials, at the budgeted price of $3 per pound, and 9 hours of direct manufacturing labor, at the budgeted rate of $15 per hour. Following are additional data for the month of July:
Units completed 5,500 units
Direct material purchases 190,000 pounds
Cost of direct material purchases $579,500
Actual direct manufacturing labor-hours 49,000 hours
Actual direct labor cost $739,900
Direct materials efficiency variance $ 1,500 F
There were no beginning inventories.
REQUIRED
1. Compute direct manufacturing labor variances for July.
2. Comput
e the actual pounds of direct materials used in production in July.
3. Calculate the actual price per pound of direct materials purchased.
4. Calculate the direct materials price variance.
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