Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Crede Manufacturing Company uses a standard cost accounting system. In 2020, 26,000 units were produced. Each unit took several kilograms of direct materials and 1.6
Crede Manufacturing Company uses a standard cost accounting system. In 2020, 26,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 50,900 direct labour hours. During the year, 117,000 kg of raw materials were purchased at $0.95 per kilogram. All materials purchased were used during the year.
If the labour price variance was $8,446 favourable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 15.25.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started