Glenn's Draperies Manufactures Curtains

question 129

Essay

Glenn's Draperies manufactures curtains.A certain window requires the following:
Direct materials standard is 10 square metres at $5 per metre
Direct manufacturing labour standard is 5 hours at $10
During the second quarter the company made 1,500 curtains and used 14,000 square metres of fabric costing $68,600.Direct labour totaled 7,600 hours for $79,800.Required:
a.Compute the direct materials price and efficiency variances for the quarter.
b.Compute the direct manufacturing labour rate and efficiency variances for the quarter.

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Definitions:

Financial Report

A formal record of the financial activities and condition of a business, person, or other entity, usually in the form of balance sheets, income statements, and cash flow statements.

Leisure Time

Free time available for hobbies and activities outside of work or other obligatory activities.

Occasion Time

A specific moment or period designated for an event or activity, influencing consumer purchasing behavior.

Flow Time

The concept of being fully immersed and engaged in an activity, often leading to a sense of enjoyment and loss of time awareness.