Alpine Productions uses a standard cost system for recording transactions. Alpine reported the following data for the year en Sales revenues: $600,000 Cost of goods sold (standard costing): $382,000 Selling & administrative expenses: $80,000 Variances: Sales revenue variance $4,300 Direct materials cost variance 10 Direct materials efficiency variance 300 F Direct labor cost variance 70 Direct labor efficiency variance 10 Variable overhead cost variance 225 Variable overhead efficiency variance 80 F

Alpine Productions uses a standard cost system for recording transactions. Alpine reported the following data for the year en Sales revenues: $600,000 Cost of goods sold (standard costing): $382,000 Selling & administrative expenses: $80,000 Variances: Sales revenue variance $4,300 Direct materials cost variance 10 Direct materials efficiency variance 300 F Direct labor cost variance 70 Direct labor efficiency variance 10 Variable overhead cost variance 225 Variable overhead efficiency variance 80 F

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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