the following information describes production activities of truzor manufacturing fo 497240
Aug 29, 2021 | Uncategorized
The following information describes production activities of Truzor Manufacturing for the year:
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Actual raw materials used |
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38,000 |
lbs. at $5.70 per lb. |
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Actual factory payroll |
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6,000 |
hours for a total of $96,000 |
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Actual units produced |
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30,000 |
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Budgeted standards for each unit produced are 1.00 pounds of raw material at $5.80 per pound and 10.0 minutes of direct labor at $15.50 per hour.
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(1) |
Compute the direct materials price and quantity variances.(Input all amount as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in your response)
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Price variance |
$ |
(Click to select)UFNone |
Quantity variance |
$ |
(Click to select)NoneFU |
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(2) |
Compute the direct labor rate and efficiency variances. (Input all amount as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required. Please round to the nearest whole number. Omit the “$” sign in your response)
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Rate variance |
$ |
(Click to select)NoneFU |
Efficiency variance |
$ |
(Click to select)NoneUF |
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