A certain department produced 16,000 units of a product that had a standard materials cost...
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Accounting
A certain department produced 16,000 units of a product that had a standard materials cost of two pounds at $1.70 per pound and a standard labor cost of two hours per unit at $9.40 per hour. Actual materials purchased and used amounted to 32,200 pounds at $1.60 per pound, while actual direct labor consisted of 32,200 hours at a total labor cost of $305,900.
A. Use T-accounts to record the purchase of materials, transfer of materials to work in process, and apply direct labor costs to work in process (including closing the variance accounts).
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