{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T08:22:39-04:00", "answer_date": "2024-06-28 08:22:39", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4273317", "url": "\/study-help\/questions\/the-thompson-company-uses-standard-costing-and-has-established-the-4273317", "question_creation_date_js": "2024-06-28T08:22:39-04:00", "question_creation_date": "Jun 28, 2024 08:22 AM", "meta_title": "[Solved] The Thompson Company uses standard costin | SolutionInn", "meta_description": "Answer of - The Thompson Company uses standard costing and has established the following direct material and direct labor standard | SolutionInn", "meta_keywords": "thompson,company,standard,costing,established,direct,material,labor,standards,unit,lept,materials", "question_title_h1": "The Thompson Company uses standard costing and has established the following direct material and direct labor standards for each unit of Lept. Direct materials: 2", "question_title": "The Thompson Company uses standard costing and has established the following direct", "question_title_for_js_snippet": "The Thompson Company uses standard costing and has established the following direct material and direct labor standards for each unit of Lept Direct materials 2 gallons at $4 per gallon Direct labor 0 5 hours at $8 per hour During September, the company made 6,000 Lepts and incurred the following costs Direct materials purchased 13,400 gallons at $4 10 per gallon Direct materials used 12,600 gallons Direct labor used 2,800 hours at $7 65 per hour The labor efficiency variance for September was $33,600 favorable $1,600 favorable $22,400 favorable $3,200 favorable", "question_description": "

The Thompson Company uses standard costing and has established the following direct material and direct labor standards for each unit of Lept. Direct materials: 2 gallons at $4 per gallon Direct labor: 0.5 hours at $8 per hour During September, the company made 6,000 Lepts and incurred the following costs: Direct materials purchased: 13,400 gallons at $4.10 per gallon Direct materials used: 12,600 gallons Direct labor used: 2,800 hours at $7.65 per hour The labor efficiency variance for September was:<\/p>

$33,600 favorable<\/p> <\/td><\/tr>

$1,600 favorable<\/p> <\/td><\/tr>

$22,400 favorable<\/p> <\/td><\/tr>

$3,200 favorable<\/p> <\/td><\/tr> <\/tbody><\/table>", "transcribed_text": "", "related_book": { "title": "Data Analysis And Decision Making", "isbn": "538476125, 978-0538476126", "edition": "4th Edition", "authors": "Christian Albright, Wayne Winston, Christopher Zappe", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/415.jpg", "uri": "\/textbooks\/data-analysis-and-decision-making-4th-edition-415", "see_more_uri": "" }, "free_related_book": { "isbn": "079234670X", "uri": "\/textbooks\/probabilistic-methods-for-structural-design-1st-edition-978-0792346708-296930", "name": "Probabilistic Methods For Structural Design", "edition": "1st Edition" }, "question_posted": "2024-06-28 08:22:39", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/relying-on-the-freedom-of-information-act-foia-public-citizen", "description": "Relying on the Freedom of Information Act (FOIA), Public Citizen Health Research Group asked the Food and Drug Administration (FDA) for documents relating to drug applications that had been abandoned...", "stars": 3 }, { "url": "\/study-help\/biostatistics\/in-the-article-factors-associated-with-potentially-missed-diagnosis-of-1981060", "description": "In the article Factors associated with potentially missed diagnosis of appendicitis in the emergency department published in JAMA Network Open (Mahajan, 2020), the authors reported that 217 of 973...", "stars": 3 }, { "url": "\/the-following-selected-circumstances-relate-to-pending-lawsuits-for-erismus", "description": "The following selected circumstances relate to pending lawsuits for Erismus, Inc. Erismuss fiscal year ends on December 31. Financial statements are published in March 2012. Erismus prepares its...", "stars": 3.5 }, { "url": "\/study-help\/questions\/required-information-the-following-information-applies-to-the-questions-displayed-9880743", "description": "Required information [The following information applies to the questions displayed below] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is...", "stars": 3.5 }, { "url": "\/study-help\/questions\/a-variablerate-mortgage-of-135000-is-amortized-over-25-years-336022", "description": "A variable-rate mortgage of $135,000 is amortized over 25 years by equal monthly payments. After 12 months the original interest rate of 8% compounded semi-annually. Two years after the mortgage was...", "stars": 3 }, { "url": "\/study-help\/questions\/concept-of-value-chain-the-phrase-value-chain-refers-to-1007654", "description": "Concept of Value Chain. The phrase \"value chain\" refers to all of the commercial activities and procedures that go into making a product or providing a service. A value chain can include all stages...", "stars": 3 }, { "url": "\/study-help\/questions\/calculate-the-following-expressing-all-answers-in-lowest-terms-1-1001901", "description": "Calculate the following expressing all answers in lowest terms: 1. 777 = 2. 3 3-3 3. Find the first derivative: f(x) = 4x + 7 4. Find the first derivative: h(x) = 2 5. Find the first derivative: g(x)...", "stars": 3 }, { "url": "\/study-help\/questions\/the-average-retirement-age-in-america-is-64-years-old-1003026", "description": "The average retirement age in America is 64 years old. Do small business owners retire at an older average age? The data below shows the results of a survey of small business owners who have recently...", "stars": 3 }, { "url": "\/study-help\/questions\/the-average-accident-on-a-certain-road-section-is-at-1002872", "description": "The average accident on a certain road section is at 2.4 per day, what is the probability that there will be 12 accidents in a week? A bus company operates both a walk-in and online booking to...", "stars": 3 }, { "url": "\/study-help\/questions\/step-3-analyze-and-document-control-plane-logical-configuration-features-1011886", "description": "Step 3: Analyze and document control plane logical configuration features. Analyze the configurations of the devices for control plane features such as routing protocols, First Hop Redundancy...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/f-4273316", "next": "\/study-help\/questions\/dedicated-pet-people-spa-salon-milestone-3-statement-4273318" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "The Thompson Company uses standard costing and has established the following direct", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-thompson-company-uses-standard-costing-and-has-established-the-4273317" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } "1" } }