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MANAGERIAL ACCOUNTING I NEED FAST ANSWER THANKS Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element / Standard (per unit) / Actual (per unit) Direct materials / 5 meters at $6.90 per meter / 5,3 meters at $7 per meter Direct labor / 1.0 hours at $11.40 per hour / 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct la

MANAGERIAL ACCOUNTING I NEED FAST ANSWER THANKS Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element / Standard (per unit) / Actual (per unit) Direct materials / 5 meters at $6.90 per meter / 5,3 meters at $7 per meter Direct labor / 1.0 hours at $11.40 per hour / 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct la

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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MANAGERIAL ACCOUNTING I NEED FAST ANSWER THANKS

 

Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element / Standard (per unit) / Actual (per unit) Direct materials / 5 meters at $6.90 per meter / 5,3 meters at $7 per meter Direct labor / 1.0 hours at $11.40 per hour / 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct labor.

3.) Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element Direct materials Direct labor Standard (per unit) 5 meters at $6.90 per meter 1.0 hours at $11.40 per hour Actual (per unit) 5,3 meters at $7 per meter 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct labor.
Transcribed Image Text:3.) Babylon Furniture manufactures sofa sets and seats. The company uses a standard cost accounting system. In June 2022, the actual production amount is 20,000 seats. The following standard and actual cost data applied to the month of June when the normal capacity was 18,000 direct labor hours. All materials purchased were used in production. Cost Element Direct materials Direct labor Standard (per unit) 5 meters at $6.90 per meter 1.0 hours at $11.40 per hour Actual (per unit) 5,3 meters at $7 per meter 0,9 hours at $11 per hour a.) Compute total, price and quantity variances for direct materials. b.) Compute total, rate and efficiency variances for direct labor.
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