High Tech Builds Fence Panels to Custom Order

question 66

Essay

High Tech builds fence panels to custom order.Materials include 15 units of lumber at $2.25/unit.Standards call for 3 hours of labor at $25/hr.During October,3,121 fence panels were built.Materials purchased totaled $113,650 for 51,100 units of lumber.Actual lumber usage in production was 51,069 units.The October payroll was $248,000 for 9,500 hours.Required:
(Be sure to indicate whether the variance is favorable or unfavorable. )
a.Compute the direct material price variance.b.Compute the direct material quantity variance.c.Compute the direct labor rate variance.d.Compute the direct labor efficiency variance.

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Definitions:

Shoreline

The boundary line between land and a body of water.

Waves

Oscillations that travel through water caused by the wind on the surface, resulting in a rise and fall motion.

Tides

Regular, periodic variations in the sea level caused by the gravitational pull of the moon and sun on Earth's oceans.

Storms

Severe weather phenomena characterized by strong winds, heavy rain, thunder, lightning, or snow.