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Kent County Company produces a single product. The standard cost card for the product follows: Direct material. Direct labor. 3 pounds @ $4/pound $12 per unit 2 hours @ $8/hour- S16 per unit 2 hours @ $5/hour $10 per unit Variable overhead. During a recent period the company produced 500 units of product. Various costs associated with the production of these units are given below: Units produced. Direct material used. Direct material purchased (3,000 pounds) Direct labor cost (950 hours). Variable overhead cost incurred 500 1,600 pounds $12,300 $7,790 $4,655 The materials quantity variance is: $400 U $410 F $410 U $6,000 U

Kent County Company produces a single product. The standard cost card for the product follows: Direct material. Direct labor. 3 pounds @ $4/pound $12 per unit 2 hours @ $8/hour- S16 per unit 2 hours @ $5/hour $10 per unit Variable overhead. During a recent period the company produced 500 units of product. Various costs associated with the production of these units are given below: Units produced. Direct material used. Direct material purchased (3,000 pounds) Direct labor cost (950 hours). Variable overhead cost incurred 500 1,600 pounds $12,300 $7,790 $4,655 The materials quantity variance is: $400 U $410 F $410 U $6,000 U

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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Kent County Company produces a single product. The standard cost card for the product follows: Direct material... Direct labor... 3 pounds @ $4/pound $12 per unit 2 hours @ $8/hour $16 per unit 2 hours @ $5/hour $10 per unit Variable overhead During a recent period the company produced 500 units of product. Various costs associated with the production of these units are given below: Units produced.. Direct material used. Direct material purchased (3,000 pounds) ... Direct labor cost (950 hours)..... Variable overhead cost incurred 500 1,600 pounds $12,300 $7,790 $4,655 The materials quantity variance is: $400 U $410 F $410 U $6,000 U MacBook Pro
Transcribed Image Text:Kent County Company produces a single product. The standard cost card for the product follows: Direct material... Direct labor... 3 pounds @ $4/pound $12 per unit 2 hours @ $8/hour $16 per unit 2 hours @ $5/hour $10 per unit Variable overhead During a recent period the company produced 500 units of product. Various costs associated with the production of these units are given below: Units produced.. Direct material used. Direct material purchased (3,000 pounds) ... Direct labor cost (950 hours)..... Variable overhead cost incurred 500 1,600 pounds $12,300 $7,790 $4,655 The materials quantity variance is: $400 U $410 F $410 U $6,000 U MacBook Pro
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