Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Required 1 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH Complete this question by entering your answers in the tabs below. Direct materials Direct labor Overhead Total Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. $ 0 Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units Required 4
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Required 1 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH Complete this question by entering your answers in the tabs below. Direct materials Direct labor Overhead Total Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. $ 0 Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units Required 4
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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please note that there are four required answers for this question
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Required information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO
P2
(1) Prepare the standard cost card showing standard cost per unit.
(2) Compute total budgeted cost for June production.
(3) Compute total actual cost for June production.
(4) Compute total cost variance for June.
Standard Quantity and Cost
6 pounds @ $9 per pound
3 DLH @ $17 per DLH
3 DLH @ $11 per DLH
Required 1
Complete this question by entering your answers in the tabs below.
Direct materials
Direct labor
Overhead
Total
Required 2 Required 3
Prepare the standard cost card showing standard cost per unit.
$
0
Required 4
Actual Results
45,500 pounds @ $9.20 per pound
22,300 hours @ $17.50 per hour
$ 254,300
7,500 units
< Required 1
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5ae4578-9d0d-4369-b6dd-45d14c4c9e30%2Fcddad16f-2e84-4a42-b7c8-ffa4ad71a06b%2Faa1sb8w_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO
P2
(1) Prepare the standard cost card showing standard cost per unit.
(2) Compute total budgeted cost for June production.
(3) Compute total actual cost for June production.
(4) Compute total cost variance for June.
Standard Quantity and Cost
6 pounds @ $9 per pound
3 DLH @ $17 per DLH
3 DLH @ $11 per DLH
Required 1
Complete this question by entering your answers in the tabs below.
Direct materials
Direct labor
Overhead
Total
Required 2 Required 3
Prepare the standard cost card showing standard cost per unit.
$
0
Required 4
Actual Results
45,500 pounds @ $9.20 per pound
22,300 hours @ $17.50 per hour
$ 254,300
7,500 units
< Required 1
Required 2 >
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