# At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products: The actual results for the year are as follows: a. Units produced: 400,000. b. Materials purchased: 2,060,000 pounds @ $3.95. c. Materials used: 2,100,000 pounds. d. Direct labor: 825,000 hours @$14.85. Required: 1. Compute price and usage variances for materials. 2. Compute the labor rate and labor efficiency variances, using both the formula and columnar approaches.

### Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
Publisher: Cengage Learning
ISBN: 9781337115773

### Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
Publisher: Cengage Learning
ISBN: 9781337115773

#### Solutions

Chapter
Section
Chapter 10, Problem 50E
Textbook Problem

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