The following information describes production activities of Truzor Manufacturing for the year:          Actual raw materials used 38,000 lbs. at $5.70 per lb.   Actual factory...

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The following information describes production activities of Truzor Manufacturing for the year:

 

     
  Actual raw materials used 38,000 lbs. at $5.70 per lb. 
  Actual factory payroll 6,000 hours for a total of $96,000 
  Actual units produced 30,000  

 

Budgeted standards for each unit produced are 1.00 pounds of raw material at $5.80 per pound and 10.0 minutes of direct labor at $15.50 per hour.

 

(1)

Compute the direct materials price and quantity variances.(Input all amount as a positive value. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response)

 

   
  Price variance
  Quantity variance

 

(2)

Compute the direct labor rate and efficiency variances. (Input all amount as a positive value. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Leave no cells blank - be certain to enter "0" wherever required. Please round to the nearest whole number. Omit the "$" sign in your response)

 

   
  Rate variance
  Efficiency variance

    • Posted: 6 years ago
    • Due: 
    • Budget: $5
    Answers 2
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