kropf incorporated has provided the following data concerning one of the products in its standard...
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Kropf Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate Direct materials 8.90 liters $ 8.50 per liter Direct labor 0.50 hours $ 29.70 per hour Variable manufacturing overhead 0.50 hours $ 7.40 per hour The company has reported the following actual results for the product for September: Actual output 11,100 units Raw materials purchased 100,500 liters Actual cost of raw materials purchased $ 875,500 Raw materials used in production 98,820 liters Actual direct labor-hours 5,140 hours Actual direct labor cost $ 160,302 Actual va
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