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Business, 20.04.2020 19:38 arrissa1234hinkle

Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.31 per micron Direct labor: 1.4 hours per toy at $6.60 per hour During July, the company produced 4,600 Maze toys. The toy's production data for the month are as follows: Direct materials: 71,000 microns were purchased at a cost of $0.28 per micron. 30,750 of these microns were still in inventory at the end of the month. Direct labor: 7,040 direct labor-hours were worked at a cost of $49,280.

find the materials price and quantity variances.

find the labor rate and efficiency variances.

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