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JANUARY 2022 RESULTS In January, 2022, sales were $103,500 on 4,060 units sold. 90 metric tons of sand were purchased and used at a total cost, including shipping, of $2,300. Actual direct labor costs were $40,400, and actual direct labor hours were 1,650. Actual overhead costs were $30,800.

JANUARY 2022 RESULTS In January, 2022, sales were $103,500 on 4,060 units sold. 90 metric tons of sand were purchased and used at a total cost, including shipping, of $2,300. Actual direct labor costs were $40,400, and actual direct labor hours were 1,650. Actual overhead costs were $30,800.

FINANCIAL ACCOUNTING
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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36 JANUARY 2022 RESULTS 37 In January, 2022, sales were $103,500 on 4,060 units sold. 38 90 metric tons of sand were purchased and used at a total cost, including shipping, of $2,300. 39 Actual direct labor costs were $40,400, and actual direct labor hours were 1,650. 40 Actual overhead costs were $30,800. 41 42 INSTRUCTIONS 43 1. Complete the Standard Cost Worksheet in the "Standard Costs" tab. All items should be show 44 to at least two decimal places, except metric tons per case, which must be shown to at least fo 45 decimall places. 46 2. Complete the Standard Cost Income Statement in the "January Review" tab. 47 3. Prepare, in a separate Word document, a brief memo describing which variances you, in a 48 controlling function, are most curious about, and why. Who would you contact for explanations
Transcribed Image Text:36 JANUARY 2022 RESULTS 37 In January, 2022, sales were $103,500 on 4,060 units sold. 38 90 metric tons of sand were purchased and used at a total cost, including shipping, of $2,300. 39 Actual direct labor costs were $40,400, and actual direct labor hours were 1,650. 40 Actual overhead costs were $30,800. 41 42 INSTRUCTIONS 43 1. Complete the Standard Cost Worksheet in the "Standard Costs" tab. All items should be show 44 to at least two decimal places, except metric tons per case, which must be shown to at least fo 45 decimall places. 46 2. Complete the Standard Cost Income Statement in the "January Review" tab. 47 3. Prepare, in a separate Word document, a brief memo describing which variances you, in a 48 controlling function, are most curious about, and why. Who would you contact for explanations
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