Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. solving for unknowns misterio company uses a stand

Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the...

70.2K

Verified Solution

Question

Accounting

image

Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Variable overhead efficiency variance $ 77,040 U Direct labor efficiency variance 173,340 U Direct labor rate variance 12,412 U Misterio applies variable overhead using a standard rate of $4 per direct labor hour allowed. Two direct labor hours are allowed per unit produced. (Only one type of product is manufactured.) During the quarter, Misterio used 45 percent more direct labor hours than should have been used. Required: 1. What were the actual direct labor hours worked? hours What are the total hours allowed? hours 2. What is the standard hourly rate for direct labor? per hour What is the actual hourly rate? Round your answer to the nearest cent. per hour 3. How many actual units were produced? units

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For this problem, carry at least four digits after the decimal in your calculations. Answers may...

Basic Math
Q

1. The novel corona virus that causes Covid 19 has given scientists and especially virologists a...

Biology
Q

When 5.00 g of acetone (C3H6O) burns in air, carbon dioxide gas and liquid water are...

Chemistry
Q

A parallel plate capacitor with a Polymide dielectric has a capacitance of 440 nF and...

Physics
Q

PQRS is a cyclic quadrilateral If P 2S 65 find ZQ and ZR 4Q 110...

Geometry
Q

The set B 1 121 11 1 1 is a basis for P Find the...

Basic Math
Q

Use the Laws of Logarithms to combine the expression 2 log x 2 log7 y...

Algebra
Q

Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and,...

Accounting
Q

Recording Sales Transactions Mathis Company and Reece Company use the perpetual inventory system. The...

Accounting
Q

Blossom Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and...

Accounting
Q

Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs....

Accounting
Q

Gamma uses a perpetual inventory system. Beginning inventory for the month of March was reported...

Accounting