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Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work hours each month to produce sets of covers. The standard costs associated with this level of production are: Direct materials Direct labor Variable Manufacturing overhead based on direct labor hours $$ $ During August, the factory worked only direct laborhours and produced sets of covers. The following actual costs were recorded during the month: tableDirect materials yards$$
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work hours each month to produce sets of covers. The standard costs associated with this level of production are:
Direct materials
Direct labor
Variable Manufacturing overhead
based on direct labor hours
$$
$
During August, the factory worked only direct laborhours and produced sets of covers. The following actual costs were recorded during the month:
tableDirect materials yards$$
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