Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $248 per board. This includes 35 pounds of direct materials, at the budgeted price of $3 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of $13 per hour. Following are additional data for the month of July: Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct manufacturing labor cost Direct materials efficiency variance 5,600 units 230,000 pounds $759,000 43,000 hours $623,500 $ 1,200 F

Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $248 per board. This includes 35 pounds of direct materials, at the budgeted price of $3 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of $13 per hour. Following are additional data for the month of July: Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing labor-hours Actual direct manufacturing labor cost Direct materials efficiency variance 5,600 units 230,000 pounds $759,000 43,000 hours $623,500 $ 1,200 F

Name: There were no beginning inventories.Q. Compute the actual pounds of di
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Description: There were no beginning inventories.Q. Compute the actual pounds of direct materials used in production in July. Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials anddirect manufacturing labor is $248 per

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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