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Tharaldson Corporation makes a product with the following standard costs Direct materials Direct labor Variable overhead Standardi Quantity or Hours 6.6 ounces 0.8 hours 0.8 hours Standard Price or Rate $ 5.00 per ounce $10.00 per hour $5.00 per hour The company reported the following results concerning this product in June. originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases 2,000 units 2,500 units 19,000 ounces 21,500 ounces 4,900 hours $ 40,500 $ 12,000 $3,000 Standard Cost Per Unit $ 33.00 $ 8.00 $4.00 Actual direct labor cost Actual variable overhead cost 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 27

Tharaldson Corporation makes a product with the following standard costs Direct materials Direct labor Variable overhead Standardi Quantity or Hours 6.6 ounces 0.8 hours 0.8 hours Standard Price or Rate $ 5.00 per ounce $10.00 per hour $5.00 per hour The company reported the following results concerning this product in June. originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases 2,000 units 2,500 units 19,000 ounces 21,500 ounces 4,900 hours $ 40,500 $ 12,000 $3,000 Standard Cost Per Unit $ 33.00 $ 8.00 $4.00 Actual direct labor cost Actual variable overhead cost 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 27

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Tharaldson Corporation makes a product with the following standard costs Direct materials Direct labor Variable overhead Standardi Quantity or Hours: 6.6 ounces 0.8 hours 0.8 hours Standard Price or Rate $5.00 per ounce $10.00 per hour $5.00 per hour The company reported the following results concerning this product in June. originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases i 2,000 units 2,500 units 19,000 ounces 21,500 ounces: 4,900 hours $ 40,500 $ 12,000 $3,000 Standard Cost Per Unit $ 33.00 $ 8.00 $4.00 Actual direct labor cost Actual variable overhead cost 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 27
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs Direct materials Direct labor Variable overhead Standardi Quantity or Hours: 6.6 ounces 0.8 hours 0.8 hours Standard Price or Rate $5.00 per ounce $10.00 per hour $5.00 per hour The company reported the following results concerning this product in June. originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases i 2,000 units 2,500 units 19,000 ounces 21,500 ounces: 4,900 hours $ 40,500 $ 12,000 $3,000 Standard Cost Per Unit $ 33.00 $ 8.00 $4.00 Actual direct labor cost Actual variable overhead cost 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 27
The materials quantity variance for June is: Multiple Choice O $12.500 U $12,500 F $4,709 F $4,709 U
Transcribed Image Text:The materials quantity variance for June is: Multiple Choice O $12.500 U $12,500 F $4,709 F $4,709 U
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