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Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours 4.80 The company reported the following results concerning this product in July. 0.80 Actual variable overhead rate 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour 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:

Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours 4.80 The company reported the following results concerning this product in July. 0.80 Actual variable overhead rate 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour 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:

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: Standard Quantity or Hours Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours Standard Price or Rate 4.80 Actual variable overhead rate 0.80 The company reported the following results concerning this product in July. 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour 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:
Transcribed Image Text:Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours Standard Price or Rate 4.80 Actual variable overhead rate 0.80 The company reported the following results concerning this product in July. 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour 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:
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