Determine the direct materials quantity and direct labor time variances.

At the beginning of June Bezco Toy Company budgeted 5000 toy action figures to be manufactured in Show more At the beginning of June Bezco Toy Company budgeted 5000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials $50000 Direct labor 36000 Total $86000 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 $49600 Actual direct labor 34020 Total $83620 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 4850 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 $ Favorable/Unfavorable? Direct labor time variance $ Favorable/Unfavorable? Show less

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