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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. $8 per lb.) (2 hrs.
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. $8 per lb.) (2 hrs. (2 hrs. $16 per hr.) $12 per hr.) Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @$16.50 per hr.. $198,000 8,000 Standard Cost Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP=Standard Price Actual Cost 0 OO O
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
