Q1// The Tryon manufacturing company manufactures the product TRYAD in standardbatches of 100 units, a standard cost system is used. the standard material and labor costs perbatch are:The standard costCost per batchRaw materials (70 Ibs. @ 0.50 S per Ib.)35 $Direct labor (40 hours @ 2.75 $ per hour)110 SProduction for November amounted to 210 batches. The actual cost for material and laborwas:The Actual costCostRaw materials14500 lbs.7975 SDirect labor8505 hours25515 $Required: the variance analysis for labor.

Variance is said to be difference between standard and actual output and cost of the production.

Q1// The Tryon manufacturing company manufactures the product TRYAD in standar batches of 100 units, a standard cost system is used. the standard material and labor costs pe batch are: The standard cost Cost per batch Raw materials (70 lbs. @ 0.50 S per lb.) 35 $ Direct labor (40 hours @ 2.75 S per hour) 110 $ Production for November amounted to 210 batches. The actual cost for material and labo was: The Actual cost Cost Raw materials 14500 lbs. 7975 S Direct labor 8505 hours 25515 $ Required: the variance analysis for labor.

Q1// The Tryon manufacturing company manufactures the product TRYAD in standar batches of 100 units, a standard cost system is used. the standard material and labor costs pe batch are: The standard cost Cost per batch Raw materials (70 lbs. @ 0.50 S per lb.) 35 $ Direct labor (40 hours @ 2.75 S per hour) 110 $ Production for November amounted to 210 batches. The actual cost for material and labo was: The Actual cost Cost Raw materials 14500 lbs. 7975 S Direct labor 8505 hours 25515 $ Required: the variance analysis for labor.

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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