The raw materials price variance for the month is closest to:Multiple Choice$46,200 U$50,400 U$46,200 F$50,400 F Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied toproducts on the basis of direct labor-hours.Standard Quantity orInputsHours per Unit of OutputStandard Price or RateDirect materials7.6 ounces$ 9.40 per ounce$ 18.00 per hour$ 5.30 per hourDirect labor0.10 hoursVariable manufacturing overhead0.10 hoursThe company has reported the following actual results for the product for July:Actual output7,600 unitsRaw materials purchased63,000 ouncesActual cost of raw materials purchasedRaw materials used in production$ 541,80057,750 ouncesActual direct labor-hours820 hoursActual direct labor cost$ 16,072$ 4,592Actual variable overhead costThe raw materials price variance for the month is closest to:

The company's aim will be to increase the profitability of the company. The profits can be arrived…

Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Standard Quantity or Hours per Unit of Output Standard Price or Rate 7.6 ounces $ 9.40 per ounce $ 18.00 per hour Direct labor 0.10 hours Variable manufacturing overhead 0.10 hours $ 5.30 per hour The company has reported the following actual results for the product for July: Actual output 7,600 units Raw materials purchased Actual cost of raw materials purchased Raw materials used in production 63,000 ounces $ 541,800 57,750 ounces Actual direct labor-hours 820 hours Actual direct labor cost $ 16,072 $ 4,592 Actual variable overhead cost The raw materials price variance for the month is closest to:

Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Standard Quantity or Hours per Unit of Output Standard Price or Rate 7.6 ounces $ 9.40 per ounce $ 18.00 per hour Direct labor 0.10 hours Variable manufacturing overhead 0.10 hours $ 5.30 per hour The company has reported the following actual results for the product for July: Actual output 7,600 units Raw materials purchased Actual cost of raw materials purchased Raw materials used in production 63,000 ounces $ 541,800 57,750 ounces Actual direct labor-hours 820 hours Actual direct labor cost $ 16,072 $ 4,592 Actual variable overhead cost The raw materials price variance for the month is closest to:

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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