Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $71,820 $2.70 Direct material used 24,000 pounds at $2.70 64,800 Direct labor 41,100 hours at 57.30 300,030 46. Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is: None of these. $5,750F. $5,750U. $750U. $750F. 47. Assume that the company computes variances at the earliest point in time. The direct-material price variance is: $5,320F. None of these. $5,120F. $5,120U. $5,320U. 48. Assume that the comoany computes variances at the earliest point in time. The direct-labor rate variance is: $7,794F. $8,220U. None of these. $7,794F. $8.220F.

Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $71,820 $2.70 Direct material used 24,000 pounds at $2.70 64,800 Direct labor 41,100 hours at 57.30 300,030 46. Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is: None of these. $5,750F. $5,750U. $750U. $750F. 47. Assume that the company computes variances at the earliest point in time. The direct-material price variance is: $5,320F. None of these. $5,120F. $5,120U. $5,320U. 48. Assume that the comoany computes variances at the earliest point in time. The direct-labor rate variance is: $7,794F. $8,220U. None of these. $7,794F. $8.220F.

Name: Cost standards for one unit of product no. C77:Direct material 3 poun
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Description: Cost standards for one unit of product no. C77:Direct material 3 pounds at $2.50 per pound$7.50Direct labor 5 hours at $7.50 per hour37.50Actual results:Units produced a8,100 unitsDirect material purchased 26,600 pounds at$71,820$2.70Direct material

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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