Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $7 per pound 47, 480 pounds @ $7.20 per pound Direct labor 2 DLH @ $15 per DLH 15, 380 hours @ $15.50 per hour Overhead 2 DLH @ $12 per DLH $ 193, 480 Units manufactured 7, 800 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $7 per pound 47,480 pounds @ $7.20 per pound Direct labor 2 DLH @ $15 per DLH 15, 380 hours @ $15.50 per hour Overhead 2 DLH @ $12 per DLH $ 193, 489 Units manufactured 7, 800 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute total budgeted cost for June production. Total budgeted (standard) cost Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $7 per pound 47, 480 pounds @ $7.20 per pound Direct labor 2 DLH @ $15 per DLH 15, 380 hours @ $15.50 per hour Overhead 2 DLH @ $12 per DLH $ 193, 480 Units manufactured 7, Bee units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute total actual cost for June production. Actual cost Required Information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $7 per pound 47, 480 pounds @ $7.20 per pound Direct labor 2 DLH @ $15 per DLH 15, 380 hours @ $15.50 per hour Overhead 2 DLH @ $12 per DLH $ 193, 480 Units manufactured 7, Bee units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute total cost variance for June. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance

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

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

25th Edition

1260247988, 978-1260247985

More Books

Students also viewed these Accounting questions