C-Cubed uses standards to control its costs. The direct materials and direct labor standards for...
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C-Cubed uses standards to control its costs. The direct materials and direct labor standards for one Fit-Right-Bike which is made out of chromoly steel, are given below: Quantity Standard Price Standard Direct Materials 50 inches $3.50 per inch Direct Labor 3 hours $20 per hour During the month of September. C-Cubed planned on making 300 bikes, but it actually produced 275 bikes C-Cubed incurred the following costs: A 19,000 Inches of chromoly steel were purchased at a cost of $3.25 per inch. C-Cubed used only 17,500 inches of chromoly steel in making the 275 bikes. B. Direct laborers worked 855 hours at an average rate of $22 per hour Compute the materials quantity variance for September Multiple Choice $3,2500 $3,250F $3,500U
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