Chapter 6 question 8Please help with part A-DSheffield Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for the tests have been developed by the company’s controller, Landon Sheffield, based on performing 2,100 core tests per month. Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 5 pounds $2.50 Direct labor $10 per DLH 0.50 DLH 5.00 Variable overhead $9 per DLH 0.50 DLH 4.50 Fixed overhead $16 per DLH 0.50 DLH 8.00 Total standard cost per test $20.00 At the end of March, London reported the following operational results: ● The company actually performed 2,280 core tests during the month. ● 8,500 pounds of direct materials were purchased during the month at a total cost of $5,700. ● 6,200 pounds of direct materials were used to conduct the core tests. ● 840 direct labor hours were worked at a total cost of $9,830. ● Actual variable overhead was $7,700. ● Actual fixed overhead was $15,800. (a) Calculate the direct materials price variance for March. (Round per unit value to 2 decimal places, e.g. 52.75 and final answer todecimal places, eg. 5,275. If variance is zero, select "Not Applicable" and enter O for the amounts.)1445UnfavorableDirect materials price variance(b) Calculate the direct materials quantity variance for March. (Round answer to 0 decimal places, e.g. 5,275. If variance is zero, sele"Not Applicable" and enter O for the amounts.)$-2600FavorableDirect materials quantity variance(c) Calculate the direct labor rate variance for March. (Round per unit value to 2 decimal places, e.g. 52.75 and final answer to 0 decplaces, eg. 5,275. If variance is zero, select "Not Applicable" and enter O for the amounts.)1428UnfavorableDirect labor rate variance(d) Calculate the direct labor efficiency variance for March. (Round answer to O decimal places, e.g. 5,275. If variance is zero, selectApplicable" and enter O for the amounts.)5880FavorableDirect labor efficiency variance%24

Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Answered: (a) Calculate the direct materials…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter13: Budgeting And Standard Costs

Section: Chapter Questions

Problem 13.5P: Direct materials and direct labor, variance analysis; factory overhead cost variance analysis Route...

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Chapter 6 question 8

Please help with part A-D

Sheffield Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for the tests have been developed by the company’s controller, Landon Sheffield, based on performing 2,100 core tests per month.

	Standard Price	Standard Quantity	Standard Cost
Direct materials	$0.50 per pound	5 pounds		$2.50
Direct labor	$10 per DLH	0.50 DLH		5.00
Variable overhead	$9 per DLH	0.50 DLH		4.50
Fixed overhead	$16 per DLH	0.50 DLH		8.00
Total standard cost per test				$20.00

At the end of March, London reported the following operational results:
●		The company actually performed 2,280 core tests during the month.
●		8,500 pounds of direct materials were purchased during the month at a total cost of $5,700.
●		6,200 pounds of direct materials were used to conduct the core tests.
●		840 direct labor hours were worked at a total cost of $9,830.
●		Actual variable overhead was $7,700.
●		Actual fixed overhead was $15,800.

(a) Calculate the direct materials price variance for March. (Round per unit value to 2 decimal places, e.g. 52.75 and final answer to
decimal places, eg. 5,275. If variance is zero, select "Not Applicable" and enter O for the amounts.)
1445
Unfavorable
Direct materials price variance
(b) Calculate the direct materials quantity variance for March. (Round answer to 0 decimal places, e.g. 5,275. If variance is zero, sele
"Not Applicable" and enter O for the amounts.)
$
-2600
Favorable
Direct materials quantity variance
(c) Calculate the direct labor rate variance for March. (Round per unit value to 2 decimal places, e.g. 52.75 and final answer to 0 dec
places, eg. 5,275. If variance is zero, select "Not Applicable" and enter O for the amounts.)
1428
Unfavorable
Direct labor rate variance
(d) Calculate the direct labor efficiency variance for March. (Round answer to O decimal places, e.g. 5,275. If variance is zero, select
Applicable" and enter O for the amounts.)
5880
Favorable
Direct labor efficiency variance
%24

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