The following information comes from the records of Dina Co. for the current period.
a. Compute the direct materials price and quantity variances, direct labor rate and efficiency variances and state whether the variance is favorable or unfavorable.
b. Prepare the journal entries to charge direct materials and direct labor costs to goods in process and the materials and labor variances to their proper accounts.
Factory overhead (based on budgeted production of 24,500 units)
Variable overhead $2.25/direct labor hour
Fixed overhead $1.95/direct labor hour
Definitions:
Pincus and Minahan
Refers to Allan Pincus and Anne Minahan, who are known for their contributions to the field of social work, particularly in the development of the systems theory framework.
Micro Level
Pertaining to individuals or small groups, focusing on personal or immediate relationships or issues rather than larger societal structures.
Social Work Practice
The professional application of social work values, principles, and techniques to help individuals or communities enhance or restore their capacity for social functioning.
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