Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information The following information applies to the questlons displayed below.] Prebie Company manufactures one prochuct. IIs variable manufacturing overhead is applied to production based

image text in transcribed
Required information The following information applies to the questlons displayed below.] Prebie Company manufactures one prochuct. IIs variable manufacturing overhead is applied to production based on direct labor-hours andi its stondard cost card per unit is as followit. The planning budget for March was based on producing and seling 24,000 units, However during March the company actually produced and sold 30,600 units and incurred the following costs. a. Purchased 170.000 pounds of raw materlals at a cost of $9.00 per pound. All of this materiai was ufied if production. b. Direct laborers worked 68,000 hours at a rate of $18 per hour. c. Total variable manufacturing overheod for the month was $512.040. 6. If Preble had purchased 183,000 pounds of materiais at $9.00 per pound and used 170.000 pounds in production, what would be the moterials quantity variance foe March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input alt amounts as positive values.)

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

The Audit Process Principles Practice And Cases

Authors: Iain Gray, Stuart Manson

3rd Edition

1861529465, 9781861529466

More Books

Students also viewed these Accounting questions