Injin Inc., which produces a single product, has prepared the following standard cost sheet for one unit
Question:
Injin Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (8 pounds at $2.50 per pound) ... $20
Direct labor (3 hours at $12.00 per hour) ....... $36
During the month of April, the company manufactures 230 units and incurs the following actual costs.
Direct materials purchased and used (1,900 pounds) .... $4,940
Direct labor (700 hours) ................ $8,120
Instructions
Compute the total, price, and quantity variances for materials and labor.
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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