Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 4.00

Marshall Printing Company

At the beginning of June, Marshall Printing Company budgeted 16,000 books to be printed in June at standard direct materials and direct labor costs as follows:
Direct materials ………… $ 24,000
Direct labor ………………... 8,000
Total …………………….. $32,000
The standard materials price is $0.75 per pound. The standard direct labor rate is $12.50 per hour. At the end of June, the actual direct materials and direct labor costs were as follows:
Actual direct materials ……… $ 21,300
Actual direct labor ……………… 6,800
Total ………………………….. $28,100
There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Marshall Printing Company actually produced 14,000 units during June.
Determine the direct materials quantity and direct labor time variances.

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 11:07 PM My Price 4.00

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