Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: Direct materials Direct labor SQ 1.2 pounds 0.8 hours During the month of May, the company made 860 cakes and incurred the following actual costs. Direct materials purchased and used (1,260 pounds) $1,638 Direct labor (920 hours) $10,580 SP $ 1.50 per pound $12.00 per hour Required: Calculate the direct materials price variance. Calculate the direct materials quantity variance . Calculate the direct materials variance. Calculate the direct labor rate variance Calculate the direct labor efficiency variance Calculate the direct labor spending variance. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) c Direct materials price variance Direct materials quantity variance Total direct materials spending variance Direct labor rate variance Direct labor efficiency variance Total direct labor spending variance

Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: Direct materials Direct labor SQ 1.2 pounds 0.8 hours During the month of May, the company made 860 cakes and incurred the following actual costs. Direct materials purchased and used (1,260 pounds) $1,638 Direct labor (920 hours) $10,580 SP $ 1.50 per pound $12.00 per hour Required: Calculate the direct materials price variance. Calculate the direct materials quantity variance . Calculate the direct materials variance. Calculate the direct labor rate variance Calculate the direct labor efficiency variance Calculate the direct labor spending variance. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) c Direct materials price variance Direct materials quantity variance Total direct materials spending variance Direct labor rate variance Direct labor efficiency variance Total direct labor spending variance

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Description: Please help me with all answers thanku I will give upvote Betty's Bakery has the following standard cost sheet for one unit of its most popular cake:Direct materials,Direct laborSQ1.2 pounds0.8 hoursDuring the month of May, the company made 860 cakes

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 2EB: Boarders estimates overhead will utilize 160,000 machine hours and cost $80,000. It takes 4 machine...

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