Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE SHOW WORK! Use the following to answer the next 2 questions: Jackson Industries employs a standard cost system in which direct materials inventory is

image text in transcribed

PLEASE SHOW WORK!

Use the following to answer the next 2 questions: Jackson Industries employs a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for the prime costs of one unit of product: During May, Jackson purchased 125,000 pounds of direct materials at a total cost of $475,000. The total factory wages for May were $364,000,90% of which were direct labor. Jackson manufactured 22,000 units of product during May using 108,000 pounds of direct materials and 28,000 direct labor hours. 4. What is Jackson's direct material usage variance? a. $36,000 favorable b. $7,200 unfavorable c. $7,200 favorable d. $61,200 favorable e. $61,200 unfavorable 5. What is Jackson's direct labor efficiency variance? a. $7,500 unfavorable b. $8,400 unfavorable c. $6,000 favorable d. $6,000 unfavorable e. $8,400 favorable

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

Auditing And Assurance Services

Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau

9th International Edition

1266285997, 978-1266285998

More Books

Students also viewed these Accounting questions