The Following Data Pertain to October Operations for the Janice

question 156

Essay

The following data pertain to October operations for the Janice Company: $\begin{array}{lll}&\text { Actual Inputs } & \text { Actual Price } \\&\text { for Each Unit } & \text { per Unit } \\&\text { of Output } & \text { of Input }\\\text { Direct material } & 11 \text { yards } & \$ 12 \text { per yard } \\\text { Direct labor } & 4.2 \text { hours } & \$ 8 \text { per hour }\end{array}$ Actual output was 1,000 units. Janice Company's per unit standards call for 15 yards of direct material at
$10.00 per yard and 4 hours of direct labor at $9.50 per hour. Janice Company purchased 11,000 yards of material.
Required:
Compute the price and usage variances for direct material and direct labor.

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Definitions:

Homo Sapiens Idaltu

An extinct subspecies of Homo sapiens that lived approximately 160,000 years ago, discovered in Ethiopia.

Recent African Origins Hypothesis

A scientific theory proposing that modern humans originated in Africa and migrated outwards, replacing local populations of archaic humans approximately 60,000 to 70,000 years ago.

Upper Paleolithic

A period of time from about 40,000 until about 10,000 years ago that marks the beginning of "behavioral modernity." The tool industries of this time are characterized by long, slim blades that produced an explosion of creative symbolic forms.

Cultural Adaptation

The process by which a group or individual modifies their customs and behaviors to fit into a new cultural environment.