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Category > Accounting Posted 20 Jun 2017 My Price 7.00

H55 Band Uniforms

H55 Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows:

 

Materials (0.90 yards × $12.50)$11.25Direct labor (1.20 hours × $13.70)$16.44

During May, the company produced 3,390 band hats; 3,970 yards of material were purchased for $40,097, and 3,020 yards of material were used in production. Also during May, 4,660 direct labor hours were worked at a cost of $55,920. Calculate material price and quantity variances and labor rate and efficiency variances. Indicate whether the variances are favorable or unfavorable.

 

Material Price Variance?

Material Quantity Variance?

Labor Rate Variance?

Labor Efficiency Variance?

Answers

SuperTutor
(15)
Status NEW Posted 20 Jun 2017 07:06 AM My Price 7.00

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