Question
In: Accounting
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below:
| Standard Quantity or Hours | Standard Price or Rate |
Standard Cost |
|||||
| Direct materials | 7.20 | pounds | $ | 2.00 | per pound | $ | 14.40 |
| Direct labor | 0.35 | hours | $ | 5.50 | per hour | $ | 1.93 |
During the most recent month, the following activity was recorded:
-
21,000.00 pounds of material were purchased at a cost of $1.70 per pound.
-
All of the material purchased was used to produce 2,500 units of Zoom.
-
725 hours of direct labor time were recorded at a total labor cost of $5,438.
Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct
materials
6.00
pounds
$
2.30
per pound
$
13.80
Direct
labor
0.50
hours
$
10.00
per hour
$
5.00
During the most recent month, the following activity was
recorded:
11,000.00 pounds of material were purchased at a cost of $2.10
per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
6.40
pounds
$
1.70
per pound
$
10.88
Direct labor
0.40
hours
$
14.00
per hour
$
5.60
During the most recent month, the following activity was
recorded:
Eighteen thousand five hundred pounds of material were purchased
at a cost of $1.40 per...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
7.80
pounds
$
2.30
per pound
$
17.94
Direct labor
0.30
hours
$
8.00
per hour
$
2.40
During the most recent month, the following activity was
recorded:
25,900.00 pounds of material were purchased at a cost of $2.10
per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
7.40
pounds
$
2.60
per pound
$
19.24
Direct labor
0.45
hours
$
8.00
per hour
$
3.60
During the most recent month, the following activity was
recorded:
12,100.00 pounds of material were purchased at a cost of $2.50
per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
7.90
pounds
$
2.10
per pound
$
16.59
Direct labor
0.50
hours
$
5.00
per hour
$
2.50
During the most recent month, the following activity was
recorded:
14,850.00 pounds of material were purchased at a cost of $2.00
per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces
a commercial cleaning compound known as Zoom. The direct materials
and direct labor standards for one unit of Zoom are given
below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct
materials
7.90
pounds
$
2.10
per pound
$
16.59
Direct
labor
0.50
hours
$
5.00
per hour
$
2.50
During the most recent
month, the following activity was recorded:
14,850.00 pounds of
material were purchased at a cost of $2.00 per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
7.20
pounds
$
2.00
per pound
$
14.40
Direct labor
0.35
hours
$
5.50
per hour
$
1.93
During the most recent month, the following activity was
recorded:
21,000.00 pounds of material were purchased at a cost of $1.70
per pound.
All of...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
5.40
pounds
$
3.00
per pound
$
16.20
Direct labor
0.40
hours
$
6.00
per hour
$
2.40
During the most recent month, the following activity was
recorded:
Ten thousand four hundred pounds of material were purchased at a
cost of $2.90 per...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard
Cost
Direct materials
5.80
pounds
$
3.00
per pound
$
17.40
Direct labor
0.40
hours
$
8.00
per hour
$
3.20
During the most recent month, the following activity was
recorded:
Eleven thousand two hundred pounds of material were purchased at
a cost of $2.90 per...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Standard Quantity or Hours
Standard Price
or Rate
Standard Cost
Direct
materials
5.3
pounds
$
2.50
per pound
$
13.25
Direct labor
0.5
hours
$
5.50
per hour
$
2.75
During the most recent month,
the following activity was recorded:
a.
Ten thousand two hundred pounds
of material were purchased at a...
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