8. Gilder Corporation makes a product with the following standard costs: Standard Quantity or Hours...
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8. Gilder Corporation makes a product with the following standard costs: Standard Quantity or Hours 47 grams Direct materials Direct labor Variable overhead Standard Price or Rate $2.00 per gram $12.00 per hour $7.00 per hour Standard Cost Per Unit $9.40 $8.40 $4.90 0.7 hours 0.7 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 6.900 units 6,800 units 28.410 grams 32.100 grams 4,200 hours $67,410 $54,180 $28,140 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The varlable overhead rate variance for June is: $1,428 U $1,428 F $1,260 F $1,260 U
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