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 0.5 hours $13.00 per hour Variable overhead 0.5 hours $7.00 per hour In March the company produced 4,500 units using 10,110 kilos of the direct material and 2,090 direct labor-hours. During the month, the company purchased 10,680 kilos of the direct material at a cost of $76,560. The actual direct labor cost was $38,257 and the actual variable overhead cost was $11,958. 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: $7,770 F $7,957 U $7,770 U $7,957 F

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_2

Step: 3

blur-text-image_3

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

Custom Edition For University Of Central Florida From Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz

3rd Edition

1269451839, 978-1269451833

More Books

Students also viewed these Accounting questions

Question

What are Electrophoresis?

Answered: 1 week ago