The following information relates to production activities of Mercer Manufacturing for the year. Actual direct materials used 17,000 pounds at $4.55 per poundActual direct labor used 17,635 hours at $29 per hourActual units produced 32,000Standard quantity and price per unit for direct materials 0.50 pound at $4.50 per poundStandard quantity and rate per unit for direct labor 0.50 hour at $30 per hourAR = Actual RateSR = Standard RateAQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceSP = Standard Price (1) Compute the direct materials price and quantity variances.

Fletcher Company collected the following data regarding production of one of its products. Compute the standard quantity allowed for the actual output. Direct materials standard (6 pounds @ $2/pound) $ 12 per finished unitActual direct materials used 251,000 poundsActual finished units produced 31,000 unitsActual cost of direct materials used $ 251,000

Given the following, the standard cost of this item is $ per unit. (Enter your answer as a whole number.)   Direct materials per unit 2 poundsDirect material cost$2.50 per poundDirect labor per unit.75 hoursDirect labor rate$16.00 per hourVariable overhead rate$8.00 per hour

Fact Pattern:Moss Point Manufacturing recently completed and sold an order of 50 units that had costs as shown in the next column.The company has now been requested to prepare a bid for 150 units of the same product.Direct materials  $  1,500Direct labor ($8.50 × 1,000 hours)8,500Variable overhead (1,000 hours × $4.00)*  4,000Fixed overhead**1,400$15,400*Applied on the basis of direct labor hours.**Applied at the rate of 10% of variable cost.

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product.  Standard Quantity Standard Price Standard CostDirect Materials 8 pounds $ 3.30 per pound $ 26.40Direct Labor 0.25 hour $ 11.00 per hour 2.75          $ 29.15During November, TaskMaster purchased 167,500 pounds of direct materials at a total cost of $536,000. The total factory wages for November were $57,000, 90% of which were for direct labor. TaskMaster manufactured 19,700 units of product during November using 147,750 pounds of direct materials and 5,150 direct labor hours.Is the direct materials price variance favorable or unfavorable?Multiple ChoiceThere is not enough information to determine.The variance is zero and is neither favorable nor unfavorable.UnfavorableFavorable

From the following information, what is the cost of goods manufactured?Direct material purchased $4,100Direct material used $3,700Direct labour cost $5,200Overhead cost $2,900Beginning work in process $400Ending work in process $350