Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 2.0 grams $ 7.00 per gram Direct labor 0.4 hours $12.00 per hour $ 2.00 per hour Variable overhead 0.4 hours The company produced 4,600 units in January using 10,100 grams of direct material and 2,080 direct labor-hours. During the month, the company purchased 10,670 grams of the direct material at $7.30 per gram. The actual direct labor rate was $12.65 per hour and the actual variable overhead rate was $1.80 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 materials quantity variance for January is:

Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 2.0 grams $ 7.00 per gram Direct labor 0.4 hours $12.00 per hour $ 2.00 per hour Variable overhead 0.4 hours The company produced 4,600 units in January using 10,100 grams of direct material and 2,080 direct labor-hours. During the month, the company purchased 10,670 grams of the direct material at $7.30 per gram. The actual direct labor rate was $12.65 per hour and the actual variable overhead rate was $1.80 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 materials quantity variance for January is:

Name: Doogan Corporation makes a product with the following standard costs:
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Description: Doogan Corporation makes a product with the following standard costs:StandardQuantity orStandard Price orHoursRateDirect materials2.0 grams$ 7.00 per gramDirect labor0.4 hours$12.00 per hourVariable overhead0.4 hours$ 2.00 per hourThe company produc

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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