Business, 06.05.2020 03:00, naenae1405

Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.1 hours per toy at $7.30 per hour During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows: Direct materials: 74,000 microns were purchased at a cost of $0.31 per micron. 26,750 of these microns were still in inventory at the end of the month. Direct labor: 6,340 direct labor-hours were worked at a cost of $50,720.

Compute the following variance for july

a The materials price and quantity variances
b. The labor rate and efficiency variances

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Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard c...