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CASE 1 0 - 1 7 Working Backwards from Variance Data LO 1 0 - 1 , LO 1 0 - 2 , LO 1

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CASE 10-17 Working Backwards from Variance Data LO10-1, LO10-2, LO10-3 Vitex, Inc., manufactures a popular consumer product and it provided the following data from its standard cost system: The company's manufacturing overhead cost is applied to production based on direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored. Required: 1. How many units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of material? 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? 6. How much actual variable manufacturing overhead cost was incurred during the period?
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