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In December Sam Antari president of Antari Inc

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In December Sam Antari president of Antari Inc;In December, Sam Antari, president of Antari Inc., received the following information from Denise Sweet, the new controller, in regard to November production of travel bags;November production ???????????. 4,800 bags;Actual cost of material purchased and used ?? $14,550;Standard material allowed ??????????. 0.5 square yard per bag Material quantity variance ?????????? $600 U;Standard price per yard of material ???????.. $6;Actual hours worked ???????????? 9,760 hours;Standard labor time per bag ?????????? 2 hours;Labor rate variance ????????????? $1,464 F;Standard labor rate per hour ?????????. $17;Antari asked Sweet to provide the following information;a. Standard quantity of material allowed for November production.;b. Standard direct labor hours allowed for November production.;c. Material price variance.;d. Labor efficiency variance.;e. Standard prime (direct material and direct labor) cost to produce one travel bag.;f. Actual cost to produce one travel bag in November.;g. An explanation for the difference between standard and actual cost, be sure that the explanation is consistent with the pattern of the variances.

 

Paper#29440 | Written in 18-Jul-2015

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