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1. 2. please answer questions completely using multiple choice. Miguez Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead
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please answer questions completely using multiple choice.
Miguez Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 3.5 liters 07 hours 0.7 hours Standard Price or Rate $ 8.20 per liter $34.00 per hour $ 3.20 per hour Standard Cost Per Unit $28.70 $23.80 $ 2.24 The company budgeted for production of 3,800 units in September, but actual production was 3,700 units. The company used 6,640 liters of direct material and 1,800 direct labor-hours to produce this output. The company purchased 7,000 liters of the direct material at $8.40 per liter. The actual direct labor rate was $36.10 per hour and the actual variable overhead rate was $2.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The variable overhead rate variance for September is: Multiple Choice O $777 F O $540 U $540 F O $777 U Tharaldson Corporation makes a product with the following standard costsi Standard Quantity or Hours 5.5 ounces 0.6 hours 0.6 hours Direct materials Direct labor Variable overhead 2 Standard Cost Per Unit $22.00 $ 6.60 $ 4.80 Standard Price or Rate $ 4.00 per ounce $ 11.00 per hour $ 8.00 per hour The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases 4,100 units 4, 100 units 23,500 ounces 20, 400 ounces 4,800 hours 42,600 $ Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,800 hours 42,600 14,100 4,050 $ $ The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is Multiple Choice Multiple Choice O $3,800 F O O $1,984 U O O $3,800 U (0) O $1,984 FStep by Step Solution
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