Essay
The records for March showed the following actual results:
Slyman Manufacturing Inc. has developed the following standards for one of its products. The materials are not substitutable.
Required:
(1) Calculate the following variances
(a) Material purchase price variance for material 1
(b) Material quantity variance for material 1
(c) Material purchase price variance for material 2
(d) Material quantity variance for material 2
(e) Labor rate variance
(f) Labor efficiency variance
2) Give at least one possible cause for each of the following variances:
(a) material 2 quantity variance
(b) labor rate variance
(c) labor efficiency variance
Correct Answer:
Verified
(1)
(a) $2,000 favorable $58,000-10,000(...View Answer
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Correct Answer:
Verified
(a) $2,000 favorable $58,000-10,000(...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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