(Solution) - Adamantane Inc processes a base chemical into plastic Standard costs -(2025 Original AI-Free Solution)

Paper Details

Adamantane Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred
for the manufactureof 15,000 units of product were as follows:

Each unit requires 0.2 hour of direct labor.
Instructions
(a) The direct materials price variance, direct materials quantity variance, and total direct materials cost variance;
(b) The direct labor rate variance, direct labor time variance, and total direct labor cost variance;
(c) The variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.