Please assist in completing the problem attached. Please be thorough when answering the questions, provide comments if needed to clarify your answer.
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(Complete problem found in attachment)
Standard Cost 1,620,000 x 4.00 = 6480,000 less Actual Cost 1,615,000 x 4.10 = Cost Variance (unfavorable) 141,000
Price Variance = Standard Cost @ $4 less Actual Cost @ 4.10 = Price Variance $0.10 (Unfavorable)
Quantity Variance = Standard Quantity 1620,000 less Actual Quantity 1615,000 = Quantity Variance (favorable) 5,000.
Direct Labor Variance
Standard Cost 270,00 x 14 ...
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