Controller Mindy Bricher is analyzing the direct material and direct labor variances for 2008. He…
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Controller Mindy Bricher is analyzing the direct material and direct labor variances for 2008. He asks you to prepare a memo outlining what to investigate and why. The following information comes from the accounting records: Direct Material Cost (for 600,000 pounds of material) ………………..$180,000 Units used …………………………………………………………………….550,000 pounds Direct Labor Costs (for 270,000 hours) ………………………………….$3,780,000 Units Produced …………………………………………………………………….1,000,000 The Standard prime cost for one bar is: Direct Materials 0.5 pounds at $0.25 per pound …………………………..$0.125 Direct Labor 0.25 hours at $15 (per hour) …………………………………..$3.750 Total Standard prime cost per bar ………………………………………………$3.875 1. Compute the appropriate direct material and direct labor variances 2. Prepare a memo outlining what items should be investigated and why.
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