ASAP please QUESTION 9 Mid City Products Inc. (MCP), developed...
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Accounting
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QUESTION 9 Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the following standard costs for one of their most popular products. Budgeted quantity Budgeted price Direct materials 2 pounds $7.60 per pound Direct labor 0.10 hours $16.00 per hour During September, MCP produced and sold 2000 units using 4100 pounds of direct materials at an average cost per pound of $7.00 and 150 direct labor hours at an average wage of $16.40 per hour. The direct labor rate variance during September is $80.00 favorable $800.00 unfavorable 560.00 unfavorable 560.00 favorable
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