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 sta The company uses a standard cost system and has established the following standards for one unit of product Standard Price or Rate Direct materials Direct labor Variable manufacturing overhead Standard Quantity 6.90 pounds 8.60 hours 8.60 hours 5 0.70 per pound $44.50 per hour 9.60 per hour Standard Cost $ 4.83 26.7e $ 5.76 During March, the following activity was recorded by the company The company produced 3,500 units during the month. A total of 20,500 pounds of material were purchased at a cost of $14.680 There was no beginning inventory of materials on hand to start the month, at the end of the month, 4720 pounds of material remained in the warehouse . . . . During March, 1.200 direct labor-hours were worked at a rate of $41.50 per hour Variable manufacturing overhead costs during March totaled $15.161 The direct materials purchases variance is computed when the materials are purchased The variable overhead rate variance for March is
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