Question
E8-1 Standard unit cost; variance analysis; journal entries 1,000 units were started and finished. Case 1: All prices and quantities for the cost elements are
E8-1 Standard unit cost; variance analysis; journal entries 1,000 units were started and finished. Case 1: All prices and quantities for the cost elements are standard, except for materials cost, which is $8.75 per pound. Case 2: All prices and quantities for the cost elements are standard, except that 2,150 lb. of materials were used. E8-2 Standard unit cost; variance analysis; journal entries 1,000 units were started and finished. Case 1: All prices and quantities are standard, except for the labor rate, which is $9.60 per hour. Case 2: All prices and quantities are standard, except for labor hours, which totaled
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