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 4.6 $ 2.50 0.2 $18.00 Direct materials pounds hours Direct labor During the most recent month, the following activity was recorded: 1. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. 2. The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.) 3.750 hours of direct labor time were recorded at a total labor cost of $14,925. Required: Compute the materials price and quantity variances for the month. per pound $ 11.50 per hour $ 3.60

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 4.6 $ 2.50 0.2 $18.00 Direct materials pounds hours Direct labor During the most recent month, the following activity was recorded: 1. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. 2. The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.) 3.750 hours of direct labor time were recorded at a total labor cost of $14,925. Required: Compute the materials price and quantity variances for the month. per pound $ 11.50 per hour $ 3.60

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Description: Please do not give solution in image format thanku Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct laborstandards for one unit of Zoom are given below:Standard Quantity or Hours Standard Price or R

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter9: Standard Costing: A Functional-based Control Approach

Section: Chapter Questions

Problem 20E: Jameson Company produces paper towels. The company has established the following direct materials...

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