Business, 06.04.2020 20:16, yasyyas646646
Pato Company produces leather sandals. The company employs a standard costing system and has the following standards in order to produce one pair of sandals:
TOTAL # OF UNITS=4,328
standard quantity standard price
direct materials 2 leather strips ?? per strip
direct labor 2.5 hours $10 per hour
variable overhead 2.5 hours ?? per hour
Pato purchased leather strips at a total cost of $124,520 and had direct labor totaling $117,100. During May, Pato used 18,790 leather strips in the production of sandals. Pato had no beginning inventories of any type for May. At May 31, Pato had 780 leather strips remaining in its direct materials inventory.
Pato Company reported the following variances for May:
Direct material price variance $7,100 unfavorable
Direct labor rate variance $29,500 favorable
Total direct labor variance $8,900 unfavorable
Variable overhead spending variance $2,440 favorable
Variable overhead efficiency variance $34,560 unfavorable
Calculate Pato's direct material quantity variance for May. IF THE VARIANCE IS FAVORABLE, place a minus sign in front of your answer (i. e., -5000). If the variance is UNFAVORABLE, simply enter your answer as a number (i. e., 5000).
Answers: 3
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Pato Company produces leather sandals. The company employs a standard costing system and has the fol...
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