Question
Bodacious Corporation produced 100 units of Product AA. The total standard and actual costs for materials and direct labor for the 100 units of Product
Bodacious Corporation produced 100 units of Product AA. The total standard and actual costs for materials and direct labor for the 100 units of Product AA are as follows:
Materials:StandardActualStandard:200 pounds at $3.00 per pound$600Actual:220 pounds at $2.85 per pound$627Direct labor:Standard:400 hours at $15.00 per hour6,000Actual:368 hours at $16.50 per hour$6,072
What is the journal entry to record labor variances?
Step by Step Solution
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Step: 1
To record labor variances for Bodacious Corporation you need to consider the standard costs and actu...
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Step: 2
Step: 3
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
