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Oasis Faucet Company manufactures faucets in a small manufacturing facility The faucets are made from zinc Manufacturing has 80 employees Each employee presently

Oasis Faucet Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 80 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hr. .................. $ 16.80 Standard labor time per faucet .............. 15 min. Standard number of lbs. of zinc ............. 2.6 lbs. Standard price per lb. of zinc .............. $ 22.00 Actual price per lb. of zinc ............... $ 21.85 Actual lbs. of zinc used during the week ..........31,750 lbs. Number of faucets produced during the week ........ 12,000 Actual wage per hr. .................. $ 17.00 Actual hrs. for the week ................. 3,200 hrs. Instructions Determine (a) The standard cost per unit for direct materials and direct labor; (b) The direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (c) The direct labor rate variance, direct labor time variance, and total direct labor cost variance.

Apr 20 2020 View more View Less

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