i need the answer quickly Waterway Corporation accumulates the following data relative to jobs started and finished during the month of June 2025.Costs and Production DataRaw materials unit costRaw materials unitsDirect labor payrollDirect labor hoursManufacturing overhead incurredManufacturing overhead appliedMachine hours expected to be used at normal capacityBudgeted fixed overhead for JuneVariable overhead rate per machine hourFixed overhead rate per machine hourActualStandard$2.30$2.2011,10010,300$170,200$164,16014,80015,200$201,200$205,20043,500$65,250$3$1.50Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. Thejobs were sold for $460,000. Selling and administrative expenses were $42,100. Assume that the amount of raw materials purchasedequaled the amount used.(a)Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 andfinal answers to O decimal places, e.g. 52.)(1)Total materials variance$Materials price variance$Materials quantity variance$(2)Total labor variance$Labor price variance$Labor quantity variance

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Description: i need the answer quickly Waterway Corporation accumulates the following data relative to jobs started and finished during the month of June 2025.Costs and Production DataRaw materials unit costRaw materials unitsDirect labor payrollDirect labor hour

Materials price variance = (Actual rate - Standard rate) * Actual quantity,Material quantity…

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Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $460,000. Selling and administrative expenses were $42,100. Assume that the amount of raw materials purchased equaled the amount used.

Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $460,000. Selling and administrative expenses were $42,100. Assume that the amount of raw materials purchased equaled the amount used.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 11PB: When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would...

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