Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: * Applied to Work in Process during
Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production based on direct laborhours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored. Required: How many units were produced last period? How many pounds of direct material were purchased and used in production? What was the actual cost per pound of material? Note: Round your answer to decimal places. How many actual direct laborhours were worked during the period? What was the actual rate paid per direct laborhour? Note: Round your answer to decimal places. How much actual variable manufacturing overhead cost was incurred during the period?
Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system:
Applied to Work in Process during the period.
The company's manufacturing overhead cost is applied to production based on direct laborhours. All of the materials purchased
during the period were used in production. Work in process inventories are insignificant and can be ignored.
Required:
How many units were produced last period?
How many pounds of direct material were purchased and used in production?
What was the actual cost per pound of material?
Note: Round your answer to decimal places.
How many actual direct laborhours were worked during the period?
What was the actual rate paid per direct laborhour?
Note: Round your answer to decimal places.
How much actual variable manufacturing overhead cost was incurred during the period?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started