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Murray, Inc's current year budget is based on: 40,000 units. The standard costs per unit are: Qty $ Direct materials 10 pounds 4.00 per pound
Murray, Inc's current year budget is based on: | 40,000 | units. | |||||
The standard costs per unit are: | |||||||
Qty | $ | ||||||
Direct materials | 10 | pounds | 4.00 | per pound | $20.00 | per unit | |
Direct labor | 4 | hours | 17.5 | per hour | 17.5 | per unit | |
Variable overhead | 4 | hours | 9 | per hour | 6 | per unit | |
Fixed overhead | 4 | hours | 21 | per hour | 14 | per unit | |
Total cost per unit | $57.50 | per unit | |||||
The actual production achieved in the current year was: | 30,000 | units. | |||||
During the year, Maroon used: | 298,000 | pounds of material. | |||||
The actual costs incurred were: | |||||||
Qty | $ | ||||||
Direct materials | 300,700 | pounds | $ 1,232,870 | ||||
Direct labor | 119,600 | hours | $ 2,081,040 | ||||
Variable overhead | $ 1,152,000 | ||||||
Fixed overhead | $ 3,312,000 | ||||||
Calculate Murrays standard quantities allowed and its eight variances. Do not type dollar signs ($) or spaces (_). |
SQa materials pounds |
SQa labor hours |
DM price $ |
DM efficiency $ |
DL price $ |
DL efficiency $ |
VOH spending $ |
VOH efficiency $ |
FOH spending/flexible budget $ |
FOH production-volume $ |
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