Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need answer for the second paper Problem 6 (20 points) ards stand The Apoundright Company uses standard costing and has established the for its single
Need answer for the second paper
Problem 6 (20 points) ards stand The Apoundright Company uses standard costing and has established the for its single product: Direct materials: 4 gallons at $8 per gallon Direct labor: 1.0 hours at 516 per hour Variable overhead: 0.5 hours at $8 per hour During November, the company made 6,000 units and incurred the followings Direct materials purchased: 26,800 gallons at $8.20 per gallon Direct materials used: 25,200 gallons Direct labor used: 5,600 hours at $15.30 per hour Actual variable overhead: $23,800 The company applies variable overhead to products on the basis of standard direct labor -hours. The materials price variance for November was: A. $5,360 F B, $5,360 U C. $5,040 F D. $5,040 U The materials quantity variance for November was: A. $22,960 U B. $22,400 U C. $9,600U D. $9,840 u AQ x AP AQ x SP (for qty) AQ x SP (for price) SQ x SP , Price Variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started