Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours (DLHs) per unit of product 2.0 Budgeted finished units for the period 6,700 Actual number of finished units produced 5,500 Standard wage rate per direct labor hour (SP) $ 27.00 Direct labor costs incurred $ 300,000 Actual wage rate per direct labor hour (AP) $ 25.00 The direct labor rate variance for October was

Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours (DLHs) per unit of product 2.0 Budgeted finished units for the period 6,700 Actual number of finished units produced 5,500 Standard wage rate per direct labor hour (SP) $ 27.00 Direct labor costs incurred $ 300,000 Actual wage rate per direct labor hour (AP) $ 25.00 The direct labor rate variance for October was

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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Standard direct labor hours (DLHs) per unit of product	2.0
Budgeted finished units for the period	6,700
Actual number of finished units produced	5,500
Standard wage rate per direct labor hour (SP)	$ 27.00
Direct labor costs incurred	$ 300,000
Actual wage rate per direct labor hour (AP)	$ 25.00

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