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I need help. Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual
I need help. Required information
[The following information applies to the questions displayed below.] A manufactured product has the following information for June.
| Standard | Actual | |||
| Direct materials | (5 lbs. @ $9 per lb.) | 37,400 | lbs. @ $9.20 per lb. | |
| Direct labor | (3 hrs. @ $16 per hr.) | 21,800 | hrs. @ $16.40 per hr. | |
| Overhead | (3 hrs. @ $13 per hr.) | $ | 295,600 | |
| Units manufactured | 7,400 | |||
(1) Compute the standard cost per unit.
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(2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable.
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