Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help with required 2. please show explanation if possible!!! O Required information The following information applies to the questions displayed below) A manufactured product

need help with required 2. please show explanation if possible!!! image text in transcribed
image text in transcribed
O Required information The following information applies to the questions displayed below) A manufactured product has the following information for June Standard Actual Direct materials 5 lbs. @ $8 per lb. 44,500 lbs. @ $8.20 per lb. Direct labor 2 hrs. @ $17 per hr. 17,300 hrs. @ $17.50 per hr. Overhead 2 hrs. $13 per hr. $234,000 Units manufactured 8,800 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. $ Direct materials Direct labor Overhead Total 40 34 26 100 $ mecres Required 2 > Required information The following Information applies to the questions displayed below) A manufactured product has the following information for June. Standard Actual Direct materials 5 lbs. $8 per lb. 44,500 lbs. @ $8.20 per lb. Direct labor 2 hrs. @ $17 per hr. 17,300 hrs. @ $17.50 per hr. Overhead 2 hrs. @ $13 per hr. $234,000 Units manufactured 8,800 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance Unfavorable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Development Of The American Public Accounting Profession

Authors: T.A. Lee

1st Edition

0415403944, 9780415403948

More Books

Students also viewed these Accounting questions

Question

Recognize and describe the steps in the recruiting process

Answered: 1 week ago

Question

Appreciate the contribution made by a positions incumbent

Answered: 1 week ago

Question

Know how to conduct a position analysis

Answered: 1 week ago