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Bulluck Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours Standard Price or Rate 3.8 Actual output Raw materials used in production Actual direct labor rate 0.5 Actual direct labor-hours 0.5 Purchases of raw materials ● Actual price of raw materials purchased ● Actual variable overhead rate $621 U $648 U $621 F $648 F The company reported the following results concerning this product in July. grams $ 1.30 hours $14.00 hours $ 2.30 11,670 3,300 units 12,400 per gram $ 1.50 per hour $ 11.70 per hour 1,380 hours $2.40 grams grams per gram The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is: Multiple Choice per hour per hour

Bulluck Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours Standard Price or Rate 3.8 Actual output Raw materials used in production Actual direct labor rate 0.5 Actual direct labor-hours 0.5 Purchases of raw materials ● Actual price of raw materials purchased ● Actual variable overhead rate $621 U $648 U $621 F $648 F The company reported the following results concerning this product in July. grams $ 1.30 hours $14.00 hours $ 2.30 11,670 3,300 units 12,400 per gram $ 1.50 per hour $ 11.70 per hour 1,380 hours $2.40 grams grams per gram The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is: Multiple Choice per hour per hour

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Bulluck Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours Standard Price or Rate 3.8 Actual output Raw materials used in production Actual direct labor rate 0.5 Actual direct labor-hours 0.5 Purchases of raw materials ● Actual price of raw materials purchased ● $621 U $648 U $621 F $648 F The company reported the following results concerning this product in July. Actual variable overhead rate grams $ 1.30 hours $14.00 hours $ 2.30 11,670 3,300 units 12,400 per gram $ 1.50 per hour $ 11.70 per hour 1,380 hours $2.40 grams grams per gram The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is: Multiple Choice per hour per hour
Transcribed Image Text:Bulluck Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours Standard Price or Rate 3.8 Actual output Raw materials used in production Actual direct labor rate 0.5 Actual direct labor-hours 0.5 Purchases of raw materials ● Actual price of raw materials purchased ● $621 U $648 U $621 F $648 F The company reported the following results concerning this product in July. Actual variable overhead rate grams $ 1.30 hours $14.00 hours $ 2.30 11,670 3,300 units 12,400 per gram $ 1.50 per hour $ 11.70 per hour 1,380 hours $2.40 grams grams per gram The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is: Multiple Choice per hour per hour
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