Quicksilver Company Has Set the Following Standards for One Unit

question 19

Essay

Quicksilver 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:

White Blood Cell

Immune system cells responsible for defending the body against infectious diseases and foreign substances.

Engulfing

The process by which cells absorb particles by enveloping them, typical in immune responses and nutrient intake.

Protection

The act of shielding something from harm or maintaining its safety through various means.

Plasma Protein

A variety of proteins found in plasma, which include albumin, immunoglobulins, and clotting factors, playing roles in transport, immunity, and blood clotting.