Question
Penny Company manufactures only one product and uses a standard cost system. The following information is from Pennys records for May: Direct labor rate variance
Penny Company manufactures only one product and uses a standard cost system. The following information is from Pennys records for May:
| Direct labor rate variance | $13,000 | favorable |
| Direct labor time variance | $28,800 | unfavorable |
| Standard hours per unit produced | 2.00 | |
| Standard rate per hour | $24 |
During May, the company used 12.50% more hours than the standard allowed.
A. What were the total standard hours allowed for the units manufactured during the month?
B. What were the actual hours worked?
C. How many actual units were produced during May?
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Securitization The Process Of Homogenizing Financial Instruments Into Fungible Securities So That They Are Sellable On The Securities Market
Authors: Jean B Keating
1st Edition
979-8859072613
