Quinton Company Has Set the Following Standards for One Unit

question 36

Essay

Quinton Company has set the following standards for one unit of product:
Direct material
Quantity: 6.2 pounds per unit
Price per pound: $11 per pound
Direct labor
Quantity: 6 hours per unit
Rate per hour: $23 per hour
Actual costs incurred in the production of 2,800 units were as follows:
Direct material: $194,350 ($11.50 per pound)
Direct labor: $393,750 ($22.50 per hour)
All materials purchased were consumed during the period.
Required:
Calculate the direct-material price and quantity variances, and the direct-labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.

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Definitions:

Remittance of Pay Stubs

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Task Behaviour

The actions and activities undertaken by individuals to accomplish specific tasks, emphasizing the work-related aspect of behavior.

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The percentage of applications or offers that are turned down or not accepted in a given process or time frame.

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