Direct materials used totaled $64,750; direct labor incurred totaled $198,400; manufacturing overhead totaled $394,800; Work in Process Inventory on January 1, 2004, was $189,100; and Work in Process Inventory on December 31, 2004, was $197,600. What is the cost of goods manufactured for the year ended December 31, 2004? a. $1,044,650 b. $657,950 c. $649,450 d. $197,600 e. None of the above Bartels Corp. produces wood carvings. It takes 2 hours of direct labor to produce a carving. Bartels' standard labor cost is $12 per hour. During August, Bartels produced 10,000 carvings and used 21,040 hours of direct labor at a total cost of $250,376. What is Bartels' labor rate variance for August?
Direct materials used totaled $64,750; direct labor incurred totaled $198,400; manufacturing overhead totaled $394,800; Work in Process Inventory on January 1, 2004, was $189,100; and Work in Process Inventory on December 31, 2004, was $197,600. What is the cost of goods manufactured for the year ended December 31, 2004? a. $1,044,650 b. $657,950 c. $649,450 d. $197,600 e. None of the above Bartels Corp. produces wood carvings. It takes 2 hours of direct labor to produce a carving. Bartels' standard labor cost is $12 per hour. During August, Bartels produced 10,000 carvings and used 21,040 hours of direct labor at a total cost of $250,376. What is Bartels' labor rate variance for August?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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provide solution of both question with explanation
Transcribed Image Text:Direct materials used totaled $64,750; direct labor incurred
totaled $198,400; manufacturing overhead totaled $394,800;
Work in Process Inventory on January 1, 2004, was $189,100;
and Work in Process Inventory on December 31, 2004, was
$197,600. What is the cost of goods manufactured for the year
ended December 31, 2004?
a. $1,044,650
b. $657,950
c. $649,450
d. $197,600
e. None of the above
Bartels Corp. produces wood carvings. It takes 2
hours of direct labor to produce a carving.
Bartels' standard labor cost is $12 per hour.
During August, Bartels produced 10,000 carvings
and used 21,040 hours of direct labor at a total
cost of $250,376. What is Bartels' labor rate
variance for August?
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