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The German Company uses standard costing. The company makes and sells Hats. The following data are for the month of August: - Actual cost of
The German Company uses standard costing. The company makes and sells Hats. The following data are for the month of August: - Actual cost of direct material purchased and used: $65,560 - Material price variance: $5,960 unfavorable - Total materials variance: $22,360 unfavorable - Standard cost per pound of material: $4 - Standard cost per direct labor-hour: $5 - Actual direct labor-hours: 6,500 hours - Labor efficiency variance: $3,500 favorable - Standard number of direct labor-hours per hat: 2 hours - Total labor variance: $400 unfavorable 29. The standard material allowed to produce one hat was: A. 1 pound B. 4 pounds C. 3 pounds D. 2 pounds
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