Direct Materials/Labor/Variances
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The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. What was the direct materials quantity variance for last month?
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ALSO:
The per-unit standards for direct labor are 2 direct labor hours at $12 per hour. If in producing 2,400 units, the actual direct labor cost was $51,200 for 4,000 direct labor hours worked, what was the total labor variance?
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Solution Summary
This solution is comprised of a detailed explanation to calculate the direct materials quantity variance for last month and the total labor variance.
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The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. What was the direct materials quantity variance for last month?
In order to calculate quantity variance, we can compute by using the following equation:
Quantity variance = ...
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