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3
Exercise 10-30 Reconstructing Standard-Cost Information from Partial Data (LO 10-1, 10-3)
4
points
Part of your company's accounting database was destroyed when Godzilla attacked the city. You have been able to gather the
following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during
the period was used in production. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None"
and enter "0" for no effect (i.e., zero variance). Round "per unit" answer values to 2 decimal places.)
eBook
Direct Labor
Direct Material
References
Standard price or rate per unit of input
per hour
$ 11.00 per lb
Standard quantity per unit of output
14.00 hours per unit
lbs per unit
Actual quantity used per unit of output
2.60 hours
lbs per unit
Actual price or rate per unit of input
$ 15.00 per hour
$ 10.00 per lb
Actual output
7,000 units
7,000 units
Direct-material price variance
$ 48,300 F
Direct-material quantity variance
Total direct-material variance
$ 34,000 F
Direct-labor rate variance
$ 18,200
Direct-labor efficiency variance
$ 19,600 F
Total direct-labor variance
$ 1,400 F
