Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

UC Company produces a single product. The standard costs for one unit of product are as follows: Direct material: 6 kilograms at Php0.50 per kilogram

UC Company produces a single product. The standard costs for one unit of product are as follows:

Direct material: 6 kilograms at Php0.50 per kilogram = Php3

Direct labor: 1.8 hours at Php10 per hour = Php18

Variable manufacturing overhead: 1.8 hours at Php5 per hour 9

Total standard variable cost per unit Php30

Note: Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

2,000 units were produced in June with the following costs:

Material purchased: 18,000 kilograms at Php0.60 per kilogram = Php10,800

Material used in production: 14,000 kilograms

Direct labor: 4,000 hours at Php9.75 per hour = Php39,000

Variable manufacturing overhead costs incurred Php20,800

Direct material: 6 kilograms at Php0.50 per kilogram Php3

Direct labor: 1.8 hours at Php10 per hour 18

Variable manufacturing overhead: 1.8 hours at Php5 per hour 9

Total standard variable cost per unit Php30

Required: Compute the following:

  1. direct materials
  2. direct labor
  3. variable manufacturing overhead variances

please show your solution

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

Managerial Accounting The Cornerstone Of Business Decision Making

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

8th Edition

0357715349, 978-0357715345

More Books

Students also viewed these Accounting questions

Question

describe several successful positive work interventions.

Answered: 1 week ago