Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gershwin Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity

image text in transcribed
Gershwin Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity Standard Price Direct Materials $5.40 per yard Direct Labor ? per DLH Variable MOH $2.00 per DLH Manufacturing overhead (MOH) is applied to production on the basis of direct labor-hours. Selected information relating to the month's production is given below: Actual number of units produced in March 810 backpacks Actual direct labor-hours 1.400 DLHs The difference between standard and actual cost per backpack produced during March was $0.20 favorable. Material Used Direct Labor Variable MOH Total Total standard cost allowed $17,496 $17,496 $2,592 $37.584 Actual costs incurred $14,784 $3,679 10 Variable MOH efficiency variance is: $208.00 Favorable S208.00 Unfavorable 5879.00 Favorable $879.00 Unfavorable E None of the above 11 Direct labor wage rate variance is: $59 Unfavorable $1,463 Unfavorable S302 Unfavorable $1,404 Unfavorable E. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

Understand the post-crisis debate on HRM and pedagogy

Answered: 1 week ago

Question

What are the objectives of performance appraisal ?

Answered: 1 week ago

Question

State the uses of job description.

Answered: 1 week ago

Question

3. Evaluate your listeners and tailor your speech to them

Answered: 1 week ago