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1. The following direct materials and direct labor data pertain to operations of Solario Manufacturing Company for month of August.

Costs

Actual labor rate

$18 per hour

Actual material price

$177 per ton

Standard labor rate

$17 per hour

Actual material price

$179 per ton

 

Quantities

Actual hours incurred and used

5,796 hours

Actual quantity of materials purchases and used

1,691 tons

Standard hours used

5,934 hours

Standard quantity of materials used

1,656 tons

find out total, price, and quantity variance for materials and labour.

 2. Following direct materials and labor data pertain to operations of Solario Manufacturing Company for month of August.

Costs

Actual labor rate

$13 per hour

Actual material price

$128 per ton

Standard labor rate

$12 per hour

Actual material price

$130 per ton

 

Quantities

Actual hours incurred and used

4,200 hours

Actual quantity of materials purchases and used

1,225 tons

Standard hours used

4,300 hours

Standard quantity of materials used

1,200 tons

Give two possible description for each of unfavorable variances computed in 1, and recommend where responsibility for unfavorable result might be placed (1).

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921484

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