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 | 7.40 | 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 the material purchased was used to produce 1,500 units of Zoom.
-
575 hours of direct labor time were recorded at a total labor cost of $5,750.
Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.
(For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.)
Solutions
ekkarill92 answered 1 year 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
7.90
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
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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