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need some help on the income statement of this accounting problem ne instructure.com/courses/47595/assignments/1036745 Email NCC $ USD Thesaurus G Google Question 2 View Policies Current
need some help on the income statement of this accounting problem
ne instructure.com/courses/47595/assignments/1036745 Email NCC $ USD Thesaurus G Google Question 2 View Policies Current Attempt in Progress Hart Labs, Inc. provides madcow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices arestric constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. Direct materials (2 test tubes $1.70 per tube) Direct labor (1 hour $30 per hour) Variable overhead (1 hour @ $7.00 per hour) Fibed overhead (1 hour $13.00 per hour) Total standard cost per test $3.40 30.00 700 13.00 $53.40 The lab does not maintain an inventory of test tubes. As a result, the tube purchased each month are used that month Actual activity for the month of November 2020, when 800 tests were Direct materials (1.680 test tubes) $2.688 Direct labor (832 hours 23.296 Variable overhead Fixed overhead 10.632 Monthly budgeted fixed overhead is $18.460. Revenues for the month were 553.600 and selling and administrative expenses were $3.7 Compute the price and quantity variances for direct materials and direct labor. Materials price variance Materials quantity variances Labor price variance C ole * Ch 26: Homework x 5 Ch 25: Homework instructure.com/courses/47595/assignments/1036745 NE NOC USD Thesaurus G Google Prepare an income statement for management HART LABS, INC. Income Statement Textbook and Media DELL Step by Step Solution
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