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Fatima, Majid & Ahmed (FMA) Company produces a single product call Falla: Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
Fatima, Majid & Ahmed (FMA) Company produces a single product call Falla: Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct materials: 6 ounces at $0.50 per ounce Direct labor: 0.6 hours at $30 per hour Variables manufacturing overhead: 0.6 hours at $10 per hour During July 2021, 2000 units were produced. The cost associated with July's operations were as follows: Material purchased 18,000 ounces at 50.60 per ounce. Material not used in production: 4,000 ounces Direct labor 1.100 hours at $30.50 per hour Variable manufacturing overhead cost incurred $12,980 15. Compute the Direct Martial Price Variance, 16. Compute the Direct Martial Quantity Variance 17. Compute the Direct labor Rute Variance 18. Compute the Direct lahat Efficiency Variance 19. Compute the Variable Overhead Rute Variance
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