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The Following Data for the Panoid Garden Supplies Company Pertains $1.00\$ 1.00

Question 95

Essay

The following data for the Panoid Garden Supplies Company pertains to the production of 2,000 garden spades during March.The spade consists of a wooden handle and a metal forged tool that comes in contact with the ground.
Direct Materials (all materials purchased were used):
Standard cost: $1.00\$ 1.00 per handle and $3.00\$ 3.00 per metal tool.
Total actual cost: $9,000\$ 9,000 .
Materials flexible-budget efficiency variance was $500\$ 500 unfavorable.
Direct Manufacturing Labor:
Standard cost is 5 garden spades per hour at $20.00\$ 20.00 per hour.
Actual cost per hour was $21.00\$ 21.00 .
Labor efficiency variance was $500\$ 500 favorable. Required:
a.What is the standard direct material amount per garden spade?
b.What is the standard cost allowed for all units produced?
c.What is the total direct materials flexible-budget variance?
d.What is the direct material flexible-budget price variance?
e.What is the total actual cost of direct manufacturing labor?
f.What is the labor price variance for direct manufacturing labor?

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