Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Jest 20 3 , : Mc Graw Puvo, Inc, manufactures a single product in which variable manufacturing overhead is assigned on the bases of
Jest 20 3 , : Mc Graw Puvo, Inc, manufactures a single product in which variable manufacturing overhead is assigned on the bases of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product Direct materials Direct labor Variable manufacturing overhead Standard Quantity 2.0 pounds 0.5 hours Standard Price or Standard Rate $4.75 per pound Cost $9.50 0.5 hours $13.00 per hour $3.00 per hour $6.50 $1.50 During March, the following activity was recorded by the company The company produced 4.400 units during the month A total of 12,300 pounds of material were purchased at a cost of $34,440. There was no beginning inventory of materials on hand to start the month; at the end of the month 2,460 pounds of material remained in the warehouse. During March, 2.400 direct labor-hours were worked at a rate of $13.50 per hour Variable manufacturing overhead costs during March totaled $3.800 The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for March INTL Activate Windm < Prev Next > hp
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started