Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a
You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations. Standard Cost Card $30.00 7.00 Direct materials (6 pounds at $5 per pound) Direct labor (0.70 hours at $10) Variable overhead (0.70 hours at $3 per hour) Fixed overhead (0.70 hours at $8 per hour) 2.10 5.60 $44.70 The following is a variance report for the most recent period of operations. Variances Costs Total Standard Cost Price Direct materials Direct labor $408,000 95,200 $4,171 F 4,108 U Quantity $9,100 U 7,500 U How many units were produced during the period? Number of units e Textbook and Media How many pounds of raw materials were purchased and used during the period? Raw material pounds e Textbook and Media What was the actual cost per pound of raw materials? (Round answer to 2 decimal places, e.g. 1.25.) Actual cost per pound of raw materials $ /lb How many actual direct labor hours were worked during the period? Actual direct labor hours hours e Textbook and Media What was the actual rate paid per direct labor hour? (Round answer to 2 decimal places, e.g. 1.25.) Actual rate paid per direct labor hour $ /hr e Textbook and Media Save for Later Attempts: 0 of 3 used Submit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started