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    deepikajuneja24's Avatar
    deepikajuneja24 Posts: 2, Reputation: 1
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    #1

    Oct 26, 2012, 01:17 PM
    Accounting
    He following information describes production activities of the Central Corp.:

    Raw materials used 16,000 lbs. At $4.05 per lb
    Factory payroll 5,545 hours for a total of $72,085

    30,000 units were completed during the year
    Budgeted standards for each unit produced:
    1/2 lb. Of raw material at $4.15 per lb.
    10 minutes of direct labor at $12.50 per hour

    Compute the direct materials price and quantity and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
     
    #2

    Oct 26, 2012, 04:04 PM
    there is no way out of this but to do the math

    It is a simple A-B = C or actual minus standard = variance

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