FILEPasteClipboardE40HOMECalibriBIU3 Direct materials:4 Standard5 Actual6 Direct labor:7 Standard8 ActualINSERT⠀1213 Total cost per unit14Font9 Variable overhead:10 Standard11 ActualX11 Α Α΄2.4 yards @3 yards @0.6 hours @0.5 hours @Basic Variance Analysis and the Impact of Variances on Unit Costs - ExcelPAGE LAYOUTFORMULASDATAREVIEWVIEW0.6 hours @0.5 hours @4-ABCDEFG1 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month:2fxxF%Alignment Number$2.75 per yard$2.70 per yard$18.00 per hour$22.00 per hour$7.00 per hour$7.10 per hourConditional Format as CellFormatting Table StylesStyles15 Excess of actual cost over standard cost per unit1617 Actual production for the month13,500 units18 Variable overhead is assigned to products based on direct labor hours. There19 was no beginning or ending inventory of materials for the month.20$6.6010.804.20Cells Editin,$21.60$8.1011.003.55$22.65$1.05

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Description: FILEPasteClipboardE40HOMECalibriBIU3 Direct materials:4 Standard5 Actual6 Direct labor:7 Standard8 ActualINSERT⠀1213 Total cost per unit14Font9 Variable overhead:10 Standard11 ActualX11 Α Α΄2.4 yards @3 yards @0.6 hours @0.5 hours @Basic Variance An

Standard costing signifies wherein the total cost is budgeted and then the actual cost is compared…

Business

Accounting

Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: Direct materials: Standard Actual Direct labor: Standard 2.4 yards @ 3 yards @ Total cost per unit 0.6 hours @ 0.5 hours @ Actual Variable overhead: Standard Actual 0.6 hours @ 0.5 hours @ $2.75 per yard $2.70 per yard $18.00 per hour $22.00 per hour $7.00 per hour $7.10 per hour Excess of actual cost over standard cost per unit Actual production for the month 13,500 units Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. $6.60 10.80 4.20 $21.60 $8.10 11.00 3.55 $22.65 $1.05

Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: Direct materials: Standard Actual Direct labor: Standard 2.4 yards @ 3 yards @ Total cost per unit 0.6 hours @ 0.5 hours @ Actual Variable overhead: Standard Actual 0.6 hours @ 0.5 hours @ $2.75 per yard $2.70 per yard $18.00 per hour $22.00 per hour $7.00 per hour $7.10 per hour Excess of actual cost over standard cost per unit Actual production for the month 13,500 units Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. $6.60 10.80 4.20 $21.60 $8.10 11.00 3.55 $22.65 $1.05

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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