Business, 10.12.2021 20:10 kayleep3947

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price Standard
Rate Cost
Direct materials 6.50 pounds $ 1.90 per pounds $ 12.35
Direct labor 0.30 hours $ 13.00per hour $ 3.90
During the most recent month, the following activity was recorded:
a. 20,500 pounds of material were purchased at a cost of $1.70 per pound.
b. All of the material purchased was used to produce 3,000 units of Zoom.
c. 800 hours of direct labor time were recorded at a total labor cost of $12,000.
Required:
1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.

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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct...

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