Question
A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $7 per pound 50,200 pounds
A manufactured product has the following information for June.
| Standard Quantity and Cost | Actual Results | ||
|---|---|---|---|
| Direct materials | 6 pounds @ $7 per pound | 50,200 | pounds @ $7.10 per pound |
| Direct labor | 2 DLH @ $16 per DLH | 16,400 | hours @ $16.50 per hour |
| Overhead | 2 DLH @ $12 per DLH | $ 204,900 | |
| Units manufactured | 8,300 | units | |
(1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June.
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Frequently Asked Questions In International Standards On Auditing
Authors: Steven Collings
1st Edition
1118765419, 978-1118765418
