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

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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