(Solved): a. Compute the direct materials price and efficiency variances for the quarter. b. Compute the direc ...

Question 2 (5 Marks) Wilson's Winter Woolens manufactures jackets and other wool clothing. A certain designed ski parka requires the following: Direct materials standard Direct manufacturing labor standard 1.5 hours at $$\$20.00$$ per hour During the third quarter, the company made 1,500 parkas and used 3,150 square yards of fabric costing $$\$39,375$$. Direct labor totaled 2,100 hours for $$\$45,150$$. Required: (Note: Show all workings) a. Compute the direct materials price and efficiency variances for the quarter.