Question Details

Tiger, Inc. has developed the following standard cost data 


1.Duval, Inc. budgets direct materials at $1/liter and each product requires 4 liters per unit of finished
						Per unit
Direct materials (6 lbs.@ $2.00/lb.)		$12.00
Direct labor (1hrs. @  $8.00/hr)		    8.00
	
product. April's activities show usage of 832 liters to complete 196 units at a cost of $798.72. Compute
the direct materials price and quantity variances. Indicate is the variance is favorable or unfavorable.


2.Tiger, Inc. has developed the following standard cost data based on 60,000 direct labor hours, which is
75% of capacity.
During the last period, the company operated at 80% of capacity and produced 128,000 units. Actual

Direct materials (760,000 lbs.		 $1,558,000
Direct labor (126,000 hrs.)		    1,014,300
costs were:
Determine the direct materials price and quantity variances and the direct labor
rate and efficiency variances. Indicate whether each variance is favorable or

Direct materials:
		Price variance 	……………………			
		Quantity variance…………………
Direct labor:
		Rate variance……………………….
		Efficiency variance…………………
unfavorable.




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