At the beginning of June Bezco Toy Company budgeted 5 000

Last updated: 7/19/2023

At the beginning of June Bezco Toy Company budgeted 5 000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows Direct materials Direct labor Total The standard materials price is 4 00 per pound The standard direct labor rate is 18 00 per hour At the end of June the actual direct materials and direct labor costs were as follows Actual direct materials Actual direct labor 50 000 36 000 86 000 49 600 34 020 83 620 Total There were no direct materials price or direct labor rate variances for June In addition assume no changes in the direct materials inventory balances in June Bezco Toy Company actually produced 4 850 units during June Determine the direct materials quantity and direct labor time variances Round your per unit computations to two decimal places if required Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct materials quantity variance Direct labor time variance 1 100 X