8.3 Penny Company manufactures only one product and uses a standard cost system. The following information is

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8.3 Penny Company manufactures only one product and uses a standard cost system. The following information is from Penny’s records for May:

During May, the company used 12.5% more hours than the standard allowed.

A. What were the total standard hours allowed for the units manufactured during the month?

B. What were the actual hours worked?

C. How many actual units were produced during May?

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Principles Of Accounting Managerial Accounting Volume 2

ISBN: 9781947172609

1st Edition

Authors: Patty Graybeal, Mitchell Franklin, Dixon Cooper

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