Managerial Accounting 10.3 assignment help

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3. value: 5.00 points 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: Direct materials Direct labor Standard Quantity or Standard Price Hours or Rate 7.80 pounds $ 2.30 per pounds 0.30 hours $ 8.00 per hour Standard Cost $ 17.94 $ 2.40 During the most recent month, the following activity was recorded: a. 25,900 pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 3,000 units of Zoom. c. 700 hours of direct labor time were recorded at a total labor cost of $6,300. Required: 1. Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 2. Compute the labor rate and efficiency variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Page 1 ...
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LehlyM
School: Boston College

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1. Compute the materials price and quantity variances for the month.
Material quantity variance = (Stan...

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