Cost standards for one unit of product no. C77: Direct material 3 pounds...
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Accounting
| Cost standards for one unit of product no. C77: | ||||
| Direct material | 3 pounds at $2.80 per pound | $ | 8.40 | |
| Direct labor | 5 hours at $7.20 per hour | 36.00 | ||
| Actual results: | ||||
| Units produced | 7,900 units | |||
| Direct material purchased | 26,300 pounds at $3.00 | $ | 78,900 | |
| Direct material used | 23,400 pounds at $3.00 | 70,200 | ||
| Direct labor | 40,400 hours at $7.00 | 282,800 | ||
Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is:
Multiple Choice
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$840F.
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$840U.
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$7,280U.
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$7,280F.
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None of the answers is correct.
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