Chapter 11 Homework Problem 1 Blank

Chapter 11 Homework Problem 1 Blank - (Indicate the effect...

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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.4 pounds $2.6 per pound $19.24 Direct labor 0.3 hours $9.8 per hour $2.94 During the most recent month, the following activity was recorded: a . 22,820 pounds of material were purchased at a cost of $2.4 per pound. b . All of the material purchased was used to produce 2,800 units of Zoom. c . 780 hours of direct labor time were recorded at a total labor cost of $9,438. Requirement 1: Compute the direct materials price and quantity variances for the month.
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Unformatted text preview: (Indicate the effect of the variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).Input all amounts as positive values. Omit the "$" sign in your response.) Materials price variance $ Materials quantity variance $ Requirement 2: Compute the direct labor rate and efficiency variances for the month. (Indicate the effect of the variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).Input all amounts as positive values. Omit the "$" sign in your response.) Labor rate variance $ Labor efficiency variance $...
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