Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Rate Direct materials Direct labor Variable overhead Hours 3.5

image text in transcribed
image text in transcribed
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Rate Direct materials Direct labor Variable overhead Hours 3.5 grams 1.00 per gram 0.7 hours 11.00 per hour 0.7 hours 2.00 per hour The company reported the following results concerning this product in July 3,000 units Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials 11,370 grams 1,910 hours' 12,100 grams Actual price of raw materials purchased 1.20 per gram Actual direct labor rate Actual variable overhead rate s 11.40 per hour $ 2.10 per hour The company applies variable overhead on the basits of direct labor-hours. The direct materials purchases variance is materials are purchased. The labor efficiency variance for July is: Multiple Choice $2,090 U Actual price of raw materials purchased 1.20 per gram Actual direct labor rate Actual variable overhead rate s 11.40 per hour $ 2.10 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed wh materials are purchased. The labor efficiency variance for July is: Multiple Choice $2,090 U $2166 U $2,090 F $2,166 F

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investment Theory And Risk Management

Authors: Steven Peterson

1st Edition

9781118129593

More Books

Students also viewed these Accounting questions