Standard cost sheet for one unit of the product


Nona Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Direct materials (6 pounds at $2.30 per pound)
$13.80
Direct labor (4 hours at $12.00 per hour)
$48.00

 

During the month of April, the company manufactures 320 units and incurs the following actual costs.

Direct materials purchased and used (2,300 pounds)
$5,911
Direct labor (1,300 hours)
$15,431

Compute the total, price, and quantity variances for materials and labor.

Total materials variance
$pixel.gif
pixel.gif Neither favorable nor unfavorableUnfavorableFavorable
Materials price variance
$pixel.gif
pixel.gif UnfavorableFavorableNeither favorable nor unfavorable
Materials quantity variance
$pixel.gif
pixel.gif Neither favorable nor unfavorableFavorableUnfavorable
Total labor variance
$pixel.gif
pixel.gif UnfavorableNeither favorable nor unfavorableFavorable
Labor price variance
$pixel.gif
pixel.gif FavorableNeither favorable nor unfavorableUnfavorable
Labor quantity variance
$pixel.gif

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Standard cost sheet for one unit of the product
Reference No:- TGS0675209

Expected delivery within 24 Hours