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Case 1 0 - 1 7 Working Backwards from Variance Data Vitex, Inc., manufactures a popular consumer product and it provided the following data from
Case Working Backwards from Variance Data
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 laborhours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored.
Required:
How many unites were produced last period?
How many pounds of direct material were purchased and used in production?
What was the actual cost per pound of material?
How many actual direct laborhours were worked during the period?
What was the actual rate paid per direct laborhour?
How much actual variable manufacturing overhead cost was incurred during the period?
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