Business, 24.03.2021 16:40 monkeygaming274

Davidow, Inc. is a privately held furniture manufacturer. For August 2017, Davidow had the following standards for one of its products, a wicker chair: Standards per Chair:
Direct materials 2 square yards of input at $5 per square yard
Direct manufacturing labor 0.5 hour of input at $10 per hour

The following data were compiled regarding actual performance:

Actual output units (chairs) produced 2,000
Square yards of input purchased and used 5,600
Price per square yard $$5.80
Direct manufacturing labor costs $10,395
Actual hours of input 990
Labor price per hour $10.50.

Required:

1. Calculate the price and efficiency variances for direct materials and direct manufacturing labor.
2. Suppose 6,000 square yards of materials were purchased at $5.10 per square yard, even though only 3,700 square yards were used.
3. Compute the price and efficiency variances under this approach.

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Davidow, Inc. is a privately held furniture manufacturer. For August 2017, Davidow had the following...

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