Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In addition, the variances for one month's production

The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In addition, the variances for one month's production are given. Assume that all inventory accounts have zero balances at the beginning of the month.

Standard Cost Per Unit Standard Monthly Costs
Materials $ 5.00 $ 11,000
Direct Labor 3 hrs @ $2.00 6.00 13,200
Factory Overhead:
Variable 2.00 4,400
Fixed 5.00 11,000
$ 18.00 $ 39,600

Variances:
Material price $ 337.50 unfavorable
Material quantity $ 500.00 unfavorable
Labor rate $ 550.00 favorable
Labor efficiency $ 2,150.00 unfavorable

What were the actual direct labor hours worked during the month?

  • 7,675

  • 7,400

  • 6,600

  • 6,325

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost And Management Accounting An Introduction

Authors: Colin Drury

5th Edition

1861529058, 978-1861529053

More Books

Students also viewed these Accounting questions

Question

When a journal entry is made, what must be equal? Why?

Answered: 1 week ago