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Gilder Corporation makes a product with the following standard costs Standard Quantity Standard Price or Standard Cost Per Unit or Hours Rate $47.50 $5.00 per
Gilder Corporation makes a product with the following standard costs Standard Quantity Standard Price or Standard Cost Per Unit or Hours Rate $47.50 $5.00 per gram 9.50 grams 0.4 hours $19.00 per hour Direct materials $760 Direct labor $5.00 per hour $2.00 0.4 hours Variable overhead The company reported the following results conceming this product in Jund. 8,000 units output 8,100 units Actual output Raw materials used in production 1,100 grams 47,900 grams Purchases of raw materials Actual direct labor-hours 680 hours Actual cost of raw materials purchases $263,040 $8,278 Actual direct labor cost $3,248 Actual variable overhead cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor rate variance for June is: O $4,661 U O $4,642 U O $4,642 F O $4,661 F
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