Homework Help is Here – Start Your Trial Now!
Business
Accounting
George Company's unadjusted COGS for 20X1 was $93,000. They had a $9,000 unfavorable direct labor efficiency variance, a $3,000 favorable direct labor rate variance, a $7,000 unfavorable direct materials purchase price variance, and a $7,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was George Company's adjusted COGS amount for 20X1?

George Company's unadjusted COGS for 20X1 was $93,000. They had a $9,000 unfavorable direct labor efficiency variance, a $3,000 favorable direct labor rate variance, a $7,000 unfavorable direct materials purchase price variance, and a $7,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was George Company's adjusted COGS amount for 20X1?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 13PA: Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the...
See similar textbooks
icon
Related questions
Question
100%

What was George company's adjusted COGS amount for 20x1

George Company's unadjusted COGS for 20X1 was $93,000. They had a $9,000 unfavorable direct labor efficiency variance, a $3,000 favorable direct labor rate variance, a $7,000 unfavorable direct materials purchase price variance, and a $7,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was George Company's adjusted COGS amount for 20X1?
Transcribed Image Text:George Company's unadjusted COGS for 20X1 was $93,000. They had a $9,000 unfavorable direct labor efficiency variance, a $3,000 favorable direct labor rate variance, a $7,000 unfavorable direct materials purchase price variance, and a $7,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was George Company's adjusted COGS amount for 20X1?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS