Rartman Corporation makes a product with the following standard costs: Standard Standard Standard Price or Quantity or Cost Per Rate Hours Unit per Direct materials 6.5 pounds $ 7.00 $ pound 45.50 Direct labor 0.6 hours $ 24.00 per hour $ 14.40 Variable overhead 0.6 hours $4.00 per hour $ 2.40 In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is: $4,200 F O$4.200 U

Rartman Corporation makes a product with the following standard costs: Standard Standard Standard Price or Quantity or Cost Per Rate Hours Unit per Direct materials 6.5 pounds $ 7.00 $ pound 45.50 Direct labor 0.6 hours $ 24.00 per hour $ 14.40 Variable overhead 0.6 hours $4.00 per hour $ 2.40 In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is: $4,200 F O$4.200 U

Name: Kartman Corporation makes a product with the following standard costs
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Kartman Corporation makes a product with the following standard costs:StandardStandardStandard Price orQuantity orCost PerRateHoursUnitDirect materialsper6.5 pounds $ 7.002$45.50poundDirect labor0.6 hours $24.00 per hour $Variable overhead0.6 hours

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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