The following data are given for Taylor Company:
Budgeted production 1,000 units
Actual produ...
Business, 13.04.2021 05:20, salihanegawo
The following data are given for Taylor Company:
Budgeted production 1,000 units
Actual production 980 units
Materials:
Standard price per pound $2.00
Standard pounds per completed unit 12
Actual pounds purchased and used in production 11,800
Actual price paid for materials $23,000
Labor:
Standard hourly labor rate $14.00 per hour
Standard hours allowed per completed unit 4.5
Actual labor hours worked 4,560
Actual total labor costs $62,928
Compute the direct materials price and quantity variances for Taylor Company. Also, compute the direct labor rate and efficiency variances for Taylor Company. Must use tabular formats for both variance models.
Answers: 3
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