Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required information (the following information ap

Required information (The following information applies to the questions displayed below.) A manufactured product has...

50.1K

Verified Solution

Question

Accounting

imageimage

Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. @ $7 per lb.) (3 hrs. @ $15 per hr.) (3 hrs. @ $13 per hr.) Actual 50,900 lbs. @ $7.20 per lb. 21,200 hrs. @ $15.50 per hr. $286,900 7,200 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. @ $7 per lb.) 13 hrs. @ $15 per hr.) (3 hrs. @ $13 per hr.) Actual 50,900 lbs. @ $7.20 per lb. 21,200 hrs. @ $15.50 per hr. $286,900 7,200 AQ - Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Actual Cost Standard Cost

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Write a brief report on a real-life project that can be organized using PERT. Books on...

Mechanical Engineering
1.2K views

How does the Holding Pressure reduce the material shrinkage in Injection Molding process? Explain this in terms...

Accounting
1.2K views

Market Price of a Bond The company intends to issue 20-year bonds with a face value...

Biology
1.2K views

Percentages of Nitrogenous Bases Organism A Human Chicken Rat E coli 73 2 O 28...

Statistics
1.2K views

19 In a recent Pew poll 10 of adults said that they consider themselves to...

Accounting
1.2K views

Temporary differences that will cause taxable income in future periods to be higher than pre-tax...

Accounting
1.2K views

please answer asap as time is limited. thanks ...

Accounting
1.2K views

MSI has been approached by a fourth-grade teacher from Portland about the possibility of creating...

Accounting
1.2K views

Dayron Co. tena 8.000 acciones ordinarias en circulacin en enero de 2009. La empresa distribuy...

Accounting
1.2K views

Meet LESLIE: You are an unhappily married woman of 39. You and your husband both...

Finance
1.2K views

over long periods, stock investments tended to substantially outperform bond investments. however, it is common...

Accounting
1.2K views

you purchase a condo for $350,000 on march 1, 2016. it is rental property on...