Sheridan Company manufactures customized desks. The following pertains to Job No. 978: Direct materials used $11450 Direct labor hours worked 560 Direct labor rate per hour $15.00 Machine hours used 500 Applied factory overhead rate per machine hour $22.00 What is the total manufacturing cost for Job No. 978? $36350 $29050 $30850 $32350
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.
Sheridan Company manufactures customized desks. The following pertains to Job No. 978:
| Direct materials used | $11450 |
| Direct labor hours worked | 560 |
| Direct labor rate per hour | $15.00 |
| Machine hours used | 500 |
| Applied factory |
$22.00 |
What is the total
|
|
$36350 |
|
|
$29050 |
|
|
$30850 |
|
|
$32350 |
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