Dash Company adopted a standard costing system several years ago. The standard costs for the prime.. 1 answer below »

Dash Company adopted a standard costing system several years ago. The standard costs for the prime costs (i.e., direct materials + direct labor) of its single product are All materials are added at the beginning of processing. The following data were taken from the company’s records for November: In-process beginning inventory ……none In-process ending inventory ……..800 Units, 75 percent complete as to labor Units completed ………..5,600 Units Budgeted output………..6,000 Units Purchases of materials ……..50,000 Kilograms Total actual labor costs ……..$600,000 Actual hours of labor ………36,500 Hours Materials usage variance…….$1,500 Unfavorable Total materials variance………..$750 Unfavorable Required 1. Compute for November: a. The labor efficiency variance. b. The labor rate variance. c. The actual number of kilograms of material used in the production process during the month. d. The actual price paid per kilogram of material during the month. e. The total amounts of material and labor cost transferred to the finished goods account. f. The total amount of material and labor cost in the work-in-process inventory account at the end of November. 2. Prepare journal entries to record all transactions including the variances in requirement 1. (CMAAdapted)

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