Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the...
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Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: StandardStandard Price or Standard Duantity Rate Cost Direct materials Direct labor Variable manufacturing overhead 5. 8 pounds $0.60 per pound $ 3.48 0.5 hours $33.50 per hour$16.75 s 8.50 per hour 4.25 0.5 hours During March, the following activity was recorded by the company . The company produced 2,400 units during the month A total of 19,400 pounds of material were purchased at a cost of $13.580 . There was no b inventory of materials on hand to start the month; at the end of the month, 3,620 pounds of material remained in the warehouse. . During March, 1,090 direct labor-hours were worked at a rate of $30.50 per hour . Variable manufacturing overhead costs during March totaled $14.061 s purchases variance is computed when the materials are purchased
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