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Tech Gadgets Ltd. manufactures smartphones. The standard cost for one smartphone is as follows: Direct materials: $50 Direct labor: $20 Variable overhead: $10 Fixed overhead:
Tech Gadgets Ltd. manufactures smartphones. The standard cost for one smartphone is as follows:
- Direct materials: $50
- Direct labor: $20
- Variable overhead: $10
- Fixed overhead: $15
- Calculate the standard cost per unit. b. Determine the total standard cost for producing 1,000 smartphones. c. If Tech Gadgets Ltd. actually produced 900 smartphones and incurred the following costs: direct materials $47,000, direct labor $18,500, variable overhead $8,800, and fixed overhead $14,500, calculate the total variance.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
4th Canadian edition
1118856996, 978-1118856994
