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Bonita Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.80 per pound) Direct labor (5 hours at $11.00 per hour) During the month of April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (1,310 hours) Total materials variance Compute the total, price, and quantity variances for materials and labor. Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance $ $ $ $34.20 $55.00 $ $ $ $8,190 $14,148

Bonita Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.80 per pound) Direct labor (5 hours at $11.00 per hour) During the month of April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (1,310 hours) Total materials variance Compute the total, price, and quantity variances for materials and labor. Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance $ $ $ $34.20 $55.00 $ $ $ $8,190 $14,148

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 9P: USD Inc. has established the following standard cost per unit: Although 10,000 units were budgeted,...
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Bonita Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.80 per pound) Direct labor (5 hours at $11.00 per hour) During the month of April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (1,310 hours) Total materials variance Compute the total, price, and quantity variances for materials and labor. Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance $ $ $ $34.20 $55.00 $ $ LA $8,190 $14,148 [II
Transcribed Image Text:Bonita Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.80 per pound) Direct labor (5 hours at $11.00 per hour) During the month of April, the company manufactures 260 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) Direct labor (1,310 hours) Total materials variance Compute the total, price, and quantity variances for materials and labor. Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance $ $ $ $34.20 $55.00 $ $ LA $8,190 $14,148 [II
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