Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This includes 40 pounds of

image text in transcribed

Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This includes 40 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.30 per hour. Following are additional data for the month of July:

A.) How many pounds of direct materials were actually used in production in July?

Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This includes 40 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of S14.30 per hour. Following are additional data for the month of July: 5,500 units 160,000 pounds Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct labor cost Direct materials efficiency variance SA32,000 41,000 hours $594,500 $ 1,700 F

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

Modern Auditing

Authors: William C Boynton, Raymond N Johnson

8th Edition

0471230111, 978-0471230113

More Books

Students also viewed these Accounting questions

Question

34. If Ax = 0 for all x 0, show that A 0.

Answered: 1 week ago