Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead 6.0 ounces 0.3 hours 0.3
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead 6.0 ounces 0.3 hours 0.3 hours Standard Cost Standard Price or Rate $ 3.00 per ounce $11.00 per hour Per Unit $ 18.00 $ 3.30 $5.00 per hour $ 1.50 The company reported the following results concerning this product in June. Originally budgeted output 3,600 units Actual output Raw materials used in production 3,200 units 21,000 ounces Purchases of raw materials 22,100 ounces Actual direct labor-hours 500 hours Actual cost of raw materials purchases $ 42,300 Actual direct labor cost $ 13,600 $3,700 Actual variable overhead cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed whem the materials are purchased. The variable overhead rate variance for June is
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started