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haraldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.9 ounces 0.4 hours 0.4 hours Standard Price or Rate $ 2.00 per ounce $ 10.00 per hour $ 4.00 per hour Standard Cost Per Unit $11.80 $ 4.00 $ 1.60 Direct materials Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases $ 42,400 Actual direct labor cost $ 13,700 Actual variable overhead cost. $ 3,750 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased 3,700 units 3,300 units 21,500 ounces 22,000 ounces 510 hours

haraldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.9 ounces 0.4 hours 0.4 hours Standard Price or Rate $ 2.00 per ounce $ 10.00 per hour $ 4.00 per hour Standard Cost Per Unit $11.80 $ 4.00 $ 1.60 Direct materials Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases $ 42,400 Actual direct labor cost $ 13,700 Actual variable overhead cost. $ 3,750 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased 3,700 units 3,300 units 21,500 ounces 22,000 ounces 510 hours

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 12P: Overhead application rate Roll Tide Manufacturing Inc. uses a job order cost system and standard...
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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.9 ounces 0.4 hours 0.4 hours Direct materials Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output. Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice O $1722 F $1710 F Standard Price or Rate : $ 2.00 per ounce $ 10.00 per hour $ 4.00 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 variable overhead rate variance for June is: $1,722 U $1,710 U 3,700 units 3,300 units 21,500 ounces 22,000 ounces 510 hours $ 42,400 $ 13,700 $ 3,750 Standard Cost Per Unit $11.80 $ 4.00 $ 1.60
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.9 ounces 0.4 hours 0.4 hours Direct materials Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output. Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice O $1722 F $1710 F Standard Price or Rate : $ 2.00 per ounce $ 10.00 per hour $ 4.00 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 variable overhead rate variance for June is: $1,722 U $1,710 U 3,700 units 3,300 units 21,500 ounces 22,000 ounces 510 hours $ 42,400 $ 13,700 $ 3,750 Standard Cost Per Unit $11.80 $ 4.00 $ 1.60
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