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jaguar350
Apr 26, 2010, 06:06 PM
You are the Production Manager for the Matador Company. You have just received the following Variance Report for December 2009
variance report for dec 2009
budget actual variance
labor $3,000 3,200 ($200)
material $12,300 $11,000 $1,300

: Variance Report
From the accounting Department you also found the following information:
• Actual labor quantity = 950 hours; Standard Labor Rate = $3.50 per hour
• Actual material quantity = 1330 units; Standard Material Rate = $8.50/unit
1. Calculate the Labor and Material Variances in Table 1 in their price-related and quantity-related variances using the following diagrams and identify which variances are Favorable and which are Unfavorable.

2. Using your results from Question #1 as evidence, explain what you think was happening in your Production Department in December. Be specific.

morgaine300
Apr 29, 2010, 12:56 AM
Please see the guidelines for posting homework problems:
https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html