A manufactured product has the following information for June. Standard 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. Actual Direct materials 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)
A manufactured product has the following information for June. Standard 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. Actual Direct materials 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 6E: Foamy Inc. manufactures shaving cream and uses the weighted average cost method. In November,...
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