Simba Company’s standard materials cost per unit of output is \$9.40 (2.00 pounds x \$4.70). During July, the company purchases and uses 3,080 pounds of materials costing \$16,632 in making 1,400 units of finished product.

Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)

Mordica Company’s standard labor cost per unit of output is \$32.40 (2.70 hours x \$12.00 per hour). During August, the company incurs 2,754 hours of direct labor at an hourly cost of \$11.76 per hour in making 1,000 units of finished product.

Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.)

The standard cost of Product B manufactured by Pharrell Company includes 3.6 units of direct materials at \$5.9 per unit. During June, 26,600 units of direct materials are purchased at a cost of \$5.65 per unit, and 26,600 units of direct materials are used to produce 7,300 units of Product B.

(a)

Compute the total materials variance and the price and quantity variances.

 Total materials variance \$ Neither favorable nor unfavorableFavorableUnfavorable Materials price variance \$ FavorableNeither favorable nor unfavorableUnfavorable Materials quantity variance \$ FavorableNeither favorable nor unfavorableUnfavorable

(b)

Compute the total materials variance and the price and quantity variances, assuming the purchase price is \$5.95 and the quantity purchased and used is 26,500 units.

 Total materials variance \$ FavorableNeither favorable nor unfavorableUnfavorable Materials price variance \$ FavorableNeither favorable nor unfavorableUnfavorable Materials quantity variance \$ FavorableUnfavorableNeither favorable nor unfavorable

Lewis Company’s standard labor cost of producing one unit of Product DD is 3.8 hours at the rate of \$10.3 per hour. During August, 40,200 hours of labor are incurred at a cost of \$10.50 per hour to produce 10,500 units of Product DD.

(a)

Compute the total labor variance.

 Total labor variance \$ FavorableNeither favorable nor unfavorableUnfavorable

(b)

Compute the labor price and quantity variances.

 Labor price variance \$ Neither favorable nor unfavorableFavorableUnfavorable Labor quantity variance \$ Neither favorable nor unfavorableUnfavorableFavorable

(c)

Compute the labor price and quantity variances, assuming the standard is 4.2 hours of direct labor at \$10.70 per hour.

 Labor price variance \$ FavorableUnfavorableNeither favorable nor unfavorable Labor quantity variance \$ Neither favorable nor unfavorableUnfavorableFavorable
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