Multiple Choice Question 85 A company developed the following per-unit standards for its product: 2 pounds of direct materials at $6 per pound. Last month, 2000 pounds of direct materials were purchased for $7600. The direct materials price variance for last month was $7600 favorable. $4400 favorable $4400 unfavorable. $2200 favorable Multiple Choice Question 78 Waterway's standard quantities for 1 unit of product include 5 pounds of materials and 2.5 labor hours. The standard rates are $5 per pound and $11 per hour The standard overhead rate is $12 per direct labor hour. The total standard cost of Waterway's product is O $82.50 O $57.50 $28.00 $52.50 Multiple Choice Question 75 For June, Bramble Corp. estimated sales revenue at $500000. It pays sales commissions that are 4% of sales. The sales manager's salary is $235000, estimated shipping expenses total 1% of sales, and miscellaneous selling expenses are $10000. How much are budgeted selling expenses for the month of July if sales are expected to be $440000? O $32000 O $267000 O $270000 O $22000 Multiple Choice Question 74 Sheffield Corp. prepared a fixed budget of 80000 direct labor hours, with estimated overhead costs of $400000 for variable overhead and $90000 for fixed overhead. Sheffield then prepared a flexible budget at 74000 labor hours. How much is total overhead costs at this level of activity? $460000 $453250 $490000 $370000o Exercise 161 (Part Level Submission) Hardy Company manufactures a single product by a continuous process, involving two production departments. The records indicate that $140,000 of direct materials were issued to and $200,000 of direct labor was incurred by Department 1 in the manufacture of the product. The factory overhead rate is $25 per machine hour; machine hours were 5,000 in Department 1. Work in process in the department at the beginning of the period totaled $35,000; and work in process at the end of the period was $25,000 Prepare entries to record The flow of costs into Department 1 for (1) direct materials (2) direct labor (3) overhead (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Course Chat