timer Asked: Nov 17th, 2015

Question description

Tiger Company makes a product and uses the following standard unit costs for that product: Direct material quantity standard 6 pound per unit Direct material price standard $ 9 per pound Direct labor time standard 3.5 hours per unit Direct labor rate standard $12 per hour Variable manufacturing overhead rate standard $ 6 per machine hour Fixed manufacturing overhead rate standard $ 5 per machine hour Machine hours standard 3 hours per unit Given the flowing actual cost and usage data, compute the direct materials price and the direct materials quantity variances.

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