Question

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price Standard or Rate Cost 6.80 pounds $ 3.00 per pound $20.40 0.50 hours $11.00 per hour $5.50 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 22,900.00 pounds of material were purchased at a cost of $2.70 per pound b. All of the material purchased was used to produce 3,000 units of Zoom. c. 1,400 hours of direct labor time were recorded at a total labor cost of $18,200. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each verience by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero verlence). Input all amounts as positive values. Round your Intermediate calculations to the nearest whole doller.) 1. Materials price variance Materials quantity vanance 2. Labor rate variance Labor efficiency variance

          Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one
unit of Zoom are given below:
Standard
Quantity or
Hours
Standard Price Standard
or Rate
Cost
6.80 pounds
$ 3.00 per pound
$20.40
0.50 hours
$11.00 per hour
$5.50
Direct materials
Direct labor
During the most recent month, the following activity was recorded:
a. 22,900.00 pounds of material were purchased at a cost of $2.70 per pound
b. All of the material purchased was used to produce 3,000 units of Zoom.
c. 1,400 hours of direct labor time were recorded at a total labor cost of $18,200.
Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.
(For all requirements, Indicate the effect of each verience by selecting "F" for favorable, "U" for unfavorable, and "None" for no
effect (l.e., zero verlence). Input all amounts as positive values. Round your Intermediate calculations to the nearest whole doller.)
1. Materials price variance
Materials quantity vanance
2. Labor rate variance
Labor efficiency variance

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one
unit of Zoom are given below:
Standard
Quantity or
Hours
Standard Price Standard
or Rate
Cost
6.80 pounds
3.00 per pound20.40
0.50 hours
11.00 per hour5.50
Direct materials
Direct labor
During the most recent month, the following activity was recorded:
a. 22,900.00 pounds of material were purchased at a cost of 2.70 per pound
b. All of the material purchased was used to produce 3,000 units of Zoom.
c. 1,400 hours of direct labor time were recorded at a total labor cost of18,200.
Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.
(For all requirements, Indicate the effect of each verience by selecting "F" for favorable, "U" for unfavorable, and "None" for no
effect (l.e., zero verlence). Input all amounts as positive values. Round your Intermediate calculations to the nearest whole doller.)
1. Materials price variance
Materials quantity vanance
2. Labor rate variance
Labor efficiency variance

Added by Jenna O.

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