Answered: 9. In a certain standard costing…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...

See similar textbooks

Related questions

Question

In a certain standard costing system, the following results occurred last period: labour rate variance, $1,000 unfavourable; labour efficiency variance, $2,800 favourable; and the actual labour rate was $0.20 more per hour than the standard labour rate. What number of actual direct labour hours was used last period?

Select one:

a. 5,400 hours.

b. 5,000 hours.

c. 4,800 hours.

d. 9,000 hours.

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Expert Solution