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TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direcț materials Direct labor 6 pounds at $0.70 per pound= 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable

TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direcț materials Direct labor 6 pounds at $0.70 per pound= 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable

FINANCIAL ACCOUNTING
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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TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor 6 pounds at $0.70 per pound = 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable
Transcribed Image Text:TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor 6 pounds at $0.70 per pound = 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable
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