Doby Corporation Makes a Product with the Following Standard Costs

question 87

Essay

Doby Corporation makes a product with the following standard costs:
In July the company produced 4,800 units using 13,450 ounces of the direct material and 970 direct labor-hours.During the month the company purchased 14,600 ounces of the direct material at a price of $7.20 per ounce.The actual direct labor rate was $16.20 per hour and the actual variable overhead rate was $5.40 per hour.The materials price variance is computed when materials are purchased.Variable overhead is applied on the basis of direct labor-hours.
Required:
a.Compute the materials quantity variance.
b.Compute the materials price variance.
c.Compute the labor efficiency variance.
d.Compute the labor rate variance.
e.Compute the variable overhead efficiency variance.
f.Compute the variable overhead rate variance.

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Definitions:

Congressmen's Correspondence

Written communication involving members of Congress, including letters, emails, and memos, typically related to legislative activities or constituent services.

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A pen whose point is made of tightly compressed fibers, designed to deliver ink smoothly onto a surface.

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A writing tool containing graphite, often mistakenly thought to contain lead, used for drawing or writing.

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An individual responsible for the upkeep of buildings, machinery, and grounds, ensuring that they are in good working condition.