Answered step by step
Verified Expert Solution
Link Copied!

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
Direct materials (9 pounds at $5 per pound) $45.00
Direct labor (0.70 hours at $6) 4.20
Variable overhead (0.70 hours at $5 per hour) 3.50
Fixed overhead (0.70 hours at $7 per hour) 4.90
$57.60

The following is a variance report for the most recent period of operations.

Variances

Costs

Total Standard Cost

Price

Quantity

Direct materials $409,000 $5,670 F $9,300 U
Direct labor 38,174 5,100 U 6,500 U

How many units were produced during the period? (Round answer to 0 decimal places, e.g. 125.)

Number of units

How many pounds of raw material were purchased and used during the period? (Round answer to 0 decimal places, e.g. 125.)

What was the actual cost per pound of raw materials? (Round answer to 2 decimal places, e.g. 1.25.)

How many actual direct labor hours were worked during the period? (Round answer to 0 decimal places, e.g. 125.)

What was the actual rate paid per direct labor hour? (Round answer to 2 decimal places, e.g. 1.25.)

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

Step: 3

blur-text-image

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

The Next Step Advanced Medical Coding And Auditing 2013

Authors: Carol J. Buck MS CPC CCS-P

1st Edition

1455744859, 978-1455744855

More Books

Students also viewed these Accounting questions

Question

b. Explain how you initially felt about the communication.

Answered: 1 week ago

Question

3. Identify the methods used within each of the three approaches.

Answered: 1 week ago

Question

a. When did your ancestors come to the United States?

Answered: 1 week ago