Business, 26.10.2021 19:00 bommat1085
During May, Joliet Fabrics Corporation manufactured 520 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.
Direct material purchased: 18,200 yards at $1.40 per yard $25,480
Direct material used: 9,700 yards at $1.40 per yard 13,580
Direct labor: 2,300 hours at $9.17 per hour 21,091
The standard prime costs for one unit of Stylex are as follows:
Direct material: 20 yards at $1.37 per yard $27.40
Direct labor: 3 hours at $7.00 per hour 21.00
Total standard prime cost per unit of output $48.40
Required:
Compute the following variances for the month of May.
1. Direct-material price variance
2. Direct-material quantity variance
3. Direct-material purchase price variance
Answers: 3
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