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A manufactured product has the following information for June. Standard 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. Actual Direct materials 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)

A manufactured product has the following information for June. Standard 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. Actual Direct materials 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance $ 12 Unfavorable
Transcribed Image Text:A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 7,900 Direct labor Overhead Units manufactured (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance $ 12 Unfavorable
A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 Direct labor Overhead Units manufactured 7,900 Compute the standard cost per unit. Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. Direct materials 48 Direct labor 45 Overhead 36 Tatal 129 %24
Transcribed Image Text:A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $12 per hr. 48,000 lbs. @ $8.20 per lb. 23,400 hrs. @ $15.40 per hr. $289,700 Direct labor Overhead Units manufactured 7,900 Compute the standard cost per unit. Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. Direct materials 48 Direct labor 45 Overhead 36 Tatal 129 %24
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