Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 12.46A a- Crede Manufacturing Company uses a standard cost accounting system. In 2020, 29,000 units were produced. Each unit took several kilograms of direct

image text in transcribed
image text in transcribed
image text in transcribed
Problem 12.46A a- Crede Manufacturing Company uses a standard cost accounting system. In 2020, 29,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 50,200 direct labour hours. During the year, 118,900 kg of raw materials were purchased at $0.94 per kilogram. All materials purchased were used during the year. If the labour price variance was $18,828 favourable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 15.25.) Actual rate per hour How much overhead was applied to production during the year? Overhead applied Using selected answers above, what were the total costs assigned to work in process? (Round answer to the nearest whole dollar, e.g. 5,275.) Total costs assigned to work in process Problem 12.46A a- Crede Manufacturing Company uses a standard cost accounting system. In 2020, 29,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 50,200 direct labour hours. During the year, 118,900 kg of raw materials were purchased at $0.94 per kilogram. All materials purchased were used during the year. If the labour price variance was $18,828 favourable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 15.25.) Actual rate per hour How much overhead was applied to production during the year? Overhead applied Using selected answers above, what were the total costs assigned to work in process? (Round answer to the nearest whole dollar, e.g. 5,275.) Total costs assigned to work in process

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

Attorneys IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304112918, 978-1304112910

More Books

Students also viewed these Accounting questions