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 Standard Price or Rate Standard Cost Per Unit Direct materials Direct
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials Direct labor Variable overhead The company had the following results in June. 6.5 ounces $ 2 per ounce $ 13 0.2 hours $ 23 23 per hour $ 4.6 0.2 hours $ 6 per hour S 1.2 Originally budgeted output 2,700 units Actual output 2,800 units Raw materials used in production 19,380 ounces Purchases of raw materials 21,400 ounces Actual direct labor-hours 500 hours Adtual cost of raw materials purchases $ 40,660 Actual direct labor cost $ 12,050 Actual variable overhead cost $ 3,100 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity 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