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Author Question: Fine Lumber Inc. mills and finishes furniture kits. A certain kit requires the following: Direct ... (Read 61 times)

frankwu

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Question 1

To prepare budgets based on actual data from past periods is preferred since past inefficiencies are EXCLUDED.
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Question 2

Fine Lumber Inc. mills and finishes furniture kits. A certain kit requires the following: 

Direct materials standard2 square yards at $13.50 per yard
Direct manufacturing labor standard1.5 hours at $20.00 per hour
 
During the third quarter, the company made 1,500 kits and used 3,150 square yards of wood costing $42,600. Direct labor totaled 2,100 hours for $46,150. 

Required:
a.Compute the direct materials price and efficiency variances for the quarter.
b.Compute the direct manufacturing labor price and efficiency variances for the quarter. 


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Marked as best answer by frankwu on Mar 6, 2021

cswans24

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frankwu

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Reply 2 on: Mar 6, 2021
Great answer, keep it coming :)


meganmoser117

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Reply 3 on: Yesterday
:D TYSM

 

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