Kent County Company produces a single product. The standard cost card for the product follows: Direct material. Direct labor... Variable overhead. 3 pounds @ $4/pound $12 per unit 2 hours @ S8/hour $16 per unit 2 hours @ $5/hour $10 per unit 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 variable overhead rate variance is: $345 F $95 F $655.50 F $345 U
Kent County Company produces a single product. The standard cost card for the product follows: Direct material. Direct labor... Variable overhead. 3 pounds @ $4/pound $12 per unit 2 hours @ S8/hour $16 per unit 2 hours @ $5/hour $10 per unit 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 variable overhead rate variance is: $345 F $95 F $655.50 F $345 U
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Kent County Company produces a single product. The standard cost card for the product follows:
Direct material.
3 pounds @ $4/pound $12 per unit
2 hours @ $8/hour $16 per unit
2 hours @ $5/hour $10 per unit
%3D
Direct labor....
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..
500
Direct material purchased (3,000 pounds)
Direct labor cost (950 hours)....
Variable overhead cost incurred
1,600 pounds
$12,300
$7,790
$4,655
The variable overhead rate variance is:
$345 F
$95 F
$655.50 F
$345 U
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