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The Costmore Company uses standard costing and has established the following standards for direct materials and direct labor for each unit it makes: Direct Materials
The Costmore Company uses standard costing and has established the following standards for direct materials and direct labor for each unit it makes: Direct Materials 3 gallons at $5 per gallon Direct Labor 1 hour at $12 per hour During July, the company made 4,000 units of product and used 13,000 gallons. The actual price paid for materials was $5.20 per gallon. Direct Labor used was 3,600 hours and workers were paid $11.75 per hour. An analysis would indicate
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