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Use the following to answer questions 1-3: Lovato Corporation Lovato Corporation makes a product for which the following per-unit information is available: Overhead is applied
Use the following to answer questions 1-3: Lovato Corporation Lovato Corporation makes a product for which the following per-unit information is available: Overhead is applied on the basis of direct-labor hours. The following budgeted and actual production information is also available FOR THE COMPANY: The following information was for Job Theta which was for 500 units: OTHER DATA FOR JOB THETA: Direct materials: 3,400 gallons purchased for a TOTAL of $20,000;3,300 gallons were used Direct labor - 900 hours at a total cost of $12,600. 1. Compute the total manufacturing cost of Job Alpha under actual costing: 3. Compute the total manufacturing cost of Job Alpha under standard costing: 4. Compute the materials purchase price variance (recorded at time of purchase) for job Theta
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