Direct Materials and Direct Labor Variances At the beginning of April, Winslow Toy Company budgeted 21,000 toy action figures to be manufactured in April at standard direct materials and direct labor costs as follows: Direct materials Direct labor Total $22,050 12,600 $34,650 The standard materials price is $0.70 per pound. The standard direct labor rate is $12.00 per hour. At the end of April, the actual direct materials and direct labor costs were as follows: Actual direct materials Actual direct labor Total $20,400 11,700 $32,100 There were no direct materials price or direct labor rate variances for April. In addition, assume no changes in the direct materials inventory balances in April. Winslow Toy Company actually produced 18,900 units during April. Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places and round your answers to the nearest dollar, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable varnce as a positive number. Direct materials quantity variance Direct labor time variance 1,646 X Unfavorable 900 X Unfavorable
Direct Materials and Direct Labor Variances At the beginning of April, Winslow Toy Company budgeted 21,000 toy action figures to be manufactured in April at standard direct materials and direct labor costs as follows: Direct materials Direct labor Total $22,050 12,600 $34,650 The standard materials price is $0.70 per pound. The standard direct labor rate is $12.00 per hour. At the end of April, the actual direct materials and direct labor costs were as follows: Actual direct materials Actual direct labor Total $20,400 11,700 $32,100 There were no direct materials price or direct labor rate variances for April. In addition, assume no changes in the direct materials inventory balances in April. Winslow Toy Company actually produced 18,900 units during April. Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places and round your answers to the nearest dollar, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable varnce as a positive number. Direct materials quantity variance Direct labor time variance 1,646 X Unfavorable 900 X Unfavorable
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 12E: Direct materials and direct labor variances At the beginning of June, Bezco Toy Company budgeted...
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