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Calculating Direct Materials & Direct Labor Variances
Learn how to calculate variances with direct materials and direct labor. Variances are changes to the costs an organization has budgeted, they can be either favorable or unfavorable.
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SOLVED: A company provided the following direct materials cost information. Compute the total direct materials variance. Standard costs assigned: Direct materials standard cost (419,990 units @ 4.50/unit). Actual costs:1,676,000. Direct materials costs incurred (417,750 units @ 4.20/unit)1,754,550.Multiple Choice:78,550 Unfavorable.83,550 Unfavorable.5,000 Favorable.78,550 Favorable.83,550 Favorable.
SOLVED: A company provided the following direct materials cost information. Compute the total direct materials variance. Standard costs assigned: Direct materials standard cost (419,990 units @ 4.50/unit). Actual costs:1,676,000. Direct materials costs incurred (417,750 units @ 4.20/unit)1,754,550.Multiple Choice:78,550 Unfavorable.83,550 Unfavorable.5,000 Favorable.78,550 Favorable.83,550 Favorable.
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SOLVED: A company provided the following direct materials cost information. Compute the total direct materials variance. Standard costs assigned: Direct materials standard cost (419,990 units @ 4.50/unit). Actual costs:1,676,000. Direct materials costs incurred (417,750 units @ 4.20/unit)1,754,550.Multiple Choice:78,550 Unfavorable.83,550 Unfavorable.5,000 Favorable.78,550 Favorable.83,550 Favorable.
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