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Managerial Accounting Question: How is Actual Quantity of Input, at Standard Price calculated? And also how is is Actual Hours of Input, at Standard Rate
Managerial Accounting Question:
How is Actual Quantity of Input, at Standard Price calculated? And also how is is Actual Hours of Input, at Standard Rate Calculated?
It's the blank cells G27 and G35. Thanks.
1 Standards r one of Patterson, Inc.'s products is shown below, along with actual cost data for the month 3 Direct materials: $2.75 per yard 2.4 yards $6.60 4 Standard $2.70 per yard 5 Actual $8.10 3 yards 6 Direct labor: $18.00 per hour 7 Standard 0.6 hours 10.80 11.00 8 Actual $22.00 per hour 0.5 hours 9 Variable overhead: $7.00 per hour 4.20 10 Standard 0.6 hours 11 Actual $7.10 per hour 0.5 hours 3.55 12 13 Total cost per unit 14 $1.05 15 Excess of actual cost over standard cost per unit 16 17 Actual production for the month 13,500 units 18 Variable overhead is assigned to products based on direct labor hours. There no beginning or ending inventory of materials for the month. as 20 21 Using formulas, compute the following. Input all numbers as positive amounts. Indicate whether the variances are For U Write if statements for variance cells F30 to F47. Use cell 22 references (formulas) for cells D53 D60. Enter an F or U to indicate the correct variance in cells to F62Step by Step Solution
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