Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Landram Corporation makes a product with the following standard costs: Inputs Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 kilos $7.00 per

Landram Corporation makes a product with the following standard costs: Inputs Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 kilos $7.00 per kilo Direct labor 0.6 hours $14.00 per hour Variable overhead 0.6 hours $6.00 per hour In March the company produced 4,600 units using 10,120 kilos of the direct material and 2,100 direct labor-hours. During the month, the company purchased 10,690 kilos of the direct material at a cost of $76,570. The actual direct labor cost was $38,256 and the actual variable overhead cost was $11,957. The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. The materials quantity variance for March is:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Holding Company Audit Compliance And Risk Management

Authors: Anthony Ludovic Assassa

1st Edition

6206122727, 978-6206122722

More Books

Students also viewed these Accounting questions

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago

Question

What is quality of work life ?

Answered: 1 week ago