MC Qu. 103 A company uses the following... A company uses the following standard costs...
60.1K
Verified Solution
Link Copied!
Question
Accounting
MC Qu. 103 A company uses the following... A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $1.10 per pound = $ 7.70 Direct labor 0.6 hour at $8.00 per hour = $ 4.80 Manufacturing overhead 0.6 hour at $5.00 per hour = $ 3.00 During the latest month, the company purchased and used 68,000 pounds of direct materials at a price of $1.30 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $42,750 based on 5,700 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $27,000 and fixed manufacturing overhead incurred was $13,000. Based on this information, the direct materials price variance for the month was: Multiple Choice $9,600 unfavorable $22,600 favorable $2,000 favorable $13,600 unfavorable $22,600 unfavorable
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
