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Grand Fender, which uses a standard cost system, manufactured 2 0 , 0 0 0 boat fenders during 2 0 2 5 , using 1
Grand Fender, which uses a standard cost system, manufactured boat fenders during using square feet of extruded vinyl purchased at $ per square foot. Production required direct labor hours that cost $ per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $ per square foot. The labor standard was direct labor hour per fender, at a standard cost of $ per hour. Read the requirement. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor. Abbreviations used: actual cost; actual quantity; FOH fixed overhead; SC standard cost; SQA standard quantity allowed. Label the variance as favorable F or unfavorable U in the input field after the amount you enter. tableFormula,,VarianceDirect materials cost variance,$
Grand Fender, which uses a standard cost system, manufactured boat fenders during using square feet of extruded vinyl purchased at $ per square foot. Production required direct labor hours that cost $ per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $ per square foot. The labor standard was direct labor hour per fender, at a standard cost of $ per hour.
Read the requirement.
Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor. Abbreviations used: actual cost; actual quantity; FOH fixed overhead; SC standard cost; SQA standard quantity allowed. Label the variance as favorable F or unfavorable U in the input field after the amount you enter.
tableFormula,,VarianceDirect materials cost variance,$
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