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Pontefract Company Produced 2,500 Widgets During November Using 4,000 Units

Question 123

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Pontefract Company produced 2,500 widgets during November using 4,000 units of materials at a cost of $5.00 each.It also used 5,000 direct labor hours at a rate of $7.00.Its direct materials standard is 2 units per widget.Its direct labor standard is 2.5 hours per widget.
Its materials price variance was a favorable $8,000 and its labor rate variance was an unfavorable $1,000.
Pontefract Company produced 2,500 widgets during November using 4,000 units of materials at a cost of $5.00 each.It also used 5,000 direct labor hours at a rate of $7.00.Its direct materials standard is 2 units per widget.Its direct labor standard is 2.5 hours per widget. Its materials price variance was a favorable $8,000 and its labor rate variance was an unfavorable $1,000.

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