Business, 27.04.2021 16:20 PerfectMagZ

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost
Direct materials 7.90 pounds $2.10 per pound $16.59
Direct labor 0.50 hours $5.00 per hour $2.50

During the most recent month, the following activity was recorded:

a. 14,850.00 pounds of material were purchased at a cost of $2.00 per pound.
b. All of the material purchased was used to produce 1,500 units of Zoom.
c. 600 hours of direct labor time were recorded at a total labor cost of $4,200.

Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.

Answers: 2

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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct...

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