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The given 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 and every 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.

Required:

a) find out the direct materials price and quantity variances.

b) find out the direct labor rate and efficiency variances. 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916336

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