Business, 08.04.2020 04:50 craig4509

During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,000 yards at $1.48 per yard $ 28,120 Direct material used: 10,500 yards at $1.48 per yard 15,540 Direct labor: 3,100 hours at $9.25 per hour 28,675 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.45 per yard $ 29.00 Direct labor: 5 hours at $8.00 per hour 40.00 Total standard prime cost per unit of output $ 69.00. Required: Compute the following variances for the month of May.

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