Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oddo Corporation makes a product with the following standard costs: Direct materials Direct labor Varlable overhead Standard Quantity Standard Price or Standard Cost Rate $760

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Oddo Corporation makes a product with the following standard costs: Direct materials Direct labor Varlable overhead Standard Quantity Standard Price or Standard Cost Rate $760 per ounce $21.00 per hour or Hours 4.0 ounces 0.6 hours 0.6 hours Per Unit $30.40 $12.60 $4.20 $700 per hour The company reported the following results concerning this product in December. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 4,460 unlts 4,260 units 17410 ounces 2,926 hours 19,150 ounces S740 per ounce $18.90 per hour $7.:20 per hour The compay applies variable overhead on the basls of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity varlance for December is: O $2.812 U O $2.738 F O $2,812 F O $2738 u

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

Students also viewed these Accounting questions