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Please answer all parts of the question. Thanks! Ironwood Company manufactures cast-iron barbeque cookware During a recent windstorm. It lost some of its cost accounting
Please answer all parts of the question. Thanks!
Ironwood Company manufactures cast-iron barbeque cookware During a recent windstorm. It lost some of its cost accounting records fronwood has managed to reconstruct portions of its standard cost system database but is still missing a few pieces of Information Required: Use the information in the table to determine the unknown amounts. You may assume that Ironwood does not keep any raw materials on hand. (Indicate the effect of each variance by selecting "Ffor favorable. "U" for unfavorable, and "None" for no effect (t.e., zero variance) $ Direct Materials 25 0 4 20 per 24.0 4 10 perib 2.500 pans Direct Labor 1 to he $ 1500 per 1 20 $ 1550 por 2 500 ans 5 Standard amount per pan produced Standard price Actual amount sed per pan produced Actual pece Actual number of pans produced and sold Direct materials pnce variance Direct matrasty variance Direct materials spending vanance Det laborate variance Direct labor efficiency variance Direct labor spending varianta $ 1 650 $ 2.5000 Step by Step Solution
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