Question
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 | ||
Direct materials (9 pounds at $5 per pound) | $45.00 | |
Direct labor (0.70 hours at $10) | 7.00 | |
Variable overhead (0.70 hours at $5 per hour) | 3.50 | |
Fixed overhead (0.70 hours at $7 per hour) | 4.90 | |
$60.40 |
The following is a variance report for the most recent period of operations.
Variances | ||||||||
Costs | Total Standard Cost | Price | Quantity | |||||
Direct materials | $409,500 | $4,188 | F | $9,300 | U | |||
Direct labor | 63,700 | 4,893 | U | 6,200 | U |
(a)
How many units were produced during the period?
Number of units | Type your answer here |
(b)
How many pounds of raw materials were purchased and used during the period?
Raw material | Type your answer here | pounds |
(c)
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 | $Type your answer here | /lb |
I will need additional help once the above question is answered. Look for follow up in comments please.
(d)
The parts of this question must be completed in order. This part will be available when you complete the part above.
(e)
The parts of this question must be completed in order. This part will be available when you complete the part above.
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