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Acting Company Has the Following Information A Determine the Materials Price Variance and Whether It Is

Question 132

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Acting Company has the following information:
 Direct Materials:  Direct Labour:  Standard Quantity 11,000 Standard Hours 3,000 Actual Quantity 13,000 Actual Hours 2,875 Standard Price $15 Standard Rate $12 Actual Price $13 Actual Rate $13\begin{array}{lrlr}\text { Direct Materials: }&&\text { Direct Labour: }\\\text { Standard Quantity } & 11,000 & \text { Standard Hours } & 3,000 \\\text { Actual Quantity } & 13,000 & \text { Actual Hours } & 2,875 \\\text { Standard Price } & \$ 15 & \text { Standard Rate } & \$ 1 2\\\text { Actual Price } & \$ 13 & \text { Actual Rate } & \$ 13\end{array} A. Determine the materials price variance and whether it is favourable or unfavourable.
B. Determine the materials usage variance and whether it is favourable or unfavourable.
C. Determine the labour rate variance and whether it is favourable or unfavourable.
D. Determine the labour efficiency variance and whether it is favourable or unfavourable.

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