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    Various Accounting Calculations

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    Stanton Company use the following standards in the production of its only product:
    Direct Materials: 18 Pounds @ $25 per pound
    Direct Labor: 6 Hours @ $18 Per Hour
    During March, company records showed the following:
    Materials purchased: 12,000 Pounds @ $264,000
    Materials used: 15,000 Pounds
    Direct Labor Hours: 4,700 Hours @ $21 Per Hour
    Units Produced: 800 Units

    The materials price variance is:

    a $36,000 unfavorable
    b $36,000 favorable
    c $15,000 unfavorable
    d $15,000 favorable

    28. The material quantity variance is:

    a $36,000 unfavorable
    b $36,000 favorable
    c $15,000 unfavorable
    d $15,000 favorable

    29. The direct labor rate variance is:

    a $1,800 unfavorable
    b $1,800 favorable
    c $14,100 unfavorable
    d $14,100 favorable

    30. The direct labor efficiency variance is:

    a $1,800 unfavorable
    b $1,800 favorable
    c $14,100 unfavorable
    d $14,100 favorable

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    https://brainmass.com/business/accounting/various-accounting-calculations-483157

    Solution Preview

    Dear student,
    Correct answers are as under as fully worked out and explained in a separate excel file ...

    Solution Summary

    The following posting helps with various accounting calculations. Concepts covered include materials price variance, material quality variance, direct labor rate variance, direct labor rate variance, and direct labor efficiency variance.

    $2.19

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