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Inc. uses a standard cost system. The company reported the following data. Variable manufacturing overhead is applied to products on the basis of direct labor
Inc. uses a standard cost system. The company reported the following data. Variable manufacturing overhead is applied to products on the basis of direct laborhours.
Data regarding the company's standard cost and quantities are provided below.
tabletableStandard quantity perunitStandard PriceRateDirect materials, ounces,$ per ounceDirect labor, hours,$ per hourtableVariable manufacturingoverhead hours,$ per hour
Below are the actual results for the most recent month of production.
tableActual results,Units produced, unitstableRaw material purchased andused ounces for $
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