Required InformationDuring June, Danby Company's material purchases amounted to 6,600 pounds at a price of $7.90 per pound. Actual costsincurred in the production of 2,300 units were as follows:Direct labor:Direct material:$ 131,835 ($18.70 per hour)$ 37,920 ($7.90 per pound)The standards for one unit of Danby Company's product are as follows:Direct Labor:Quantity, 3 hours per unitRate, $18.60 per hourRequired:Fill in the amounts in the tables below.Complete this question by entering your answers in the tabs below.Required 1Required 2 Required 3Fill in the amounts in the tables below.Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).). Round "Actual Price" and "StandardPrice" to 2 decimal places.Actual Material CostActualQuantitypounds usedxXActual PriceDirect Material:Quantity, 2 pounds per unitPrice, $7.60 per poundper poundDirect-material price varianceDirect-Material Price and Quantity VariancesProjected Material CostActual Quantitypounds usedxxStandard PriceDirect-material varianceper pound< Required 1Standard Material CostStandard Quantitypounds allowed*Direct-material quantity varianceRequired 2 >Standard Priceper pound

Name: Required InformationDuring June, Danby Company's material purchases a
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Required InformationDuring June, Danby Company's material purchases amounted to 6,600 pounds at a price of $7.90 per pound. Actual costsincurred in the production of 2,300 units were as follows:Direct labor:Direct material:$ 131,835 ($18.70 per hour