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Show the jounral entries in T accounts for direct materials if Becton Labs used a standard cost system Becton Labs, Inc., produces various chemical compounds
Show the jounral entries in T accounts for direct materials if Becton Labs used a standard cost system
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called is prepared by means of an elaborate distilling process. The company has developed standard costs for one unit of as follows: Production was planned at 4000 units of Fludex per month (this was the amount used to calculate overhead rates). During April, 2016 the following activity took place: Purchased 16,000 ounces of material for $293,200 At the beginning of April there was no direct materials inventory but there was ending inventory of 1,950 ounces (how much was used?). The company actually paid 43 lab technicians for 184 hours each at $11.35 per hour to work on during April. During April, 4,200 units of Fludex were produced. Actual Variable Overhead: 16 setups cost $11,300 8,920 machine hours cost 61,840 Supervision cost 34,810Step by Step Solution
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