17 Purchases of raw materialsActual direct labor-hoursActual cost of raw materials purchasesActual direct labor costActual variable overhead costThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computedwhen the materials are purchased.The labor rate variance for June is:O $550 Unfavorable$616 Unfavorable21,400 ounces500 hours$ 40,660$ 12,050$ 3,100O $616 FavorableO $550 Favorable4 Tharaldson Corporation makes a product with the following standard costs:Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit$ 13.00Direct materials 6.5 ounces$ 2.00 per ounce$23.00 per hourDirect labor 0.2 hours$4.60Variable overhead 0.2 hours$6.00 per hour$1.20The company reported the following results concerning this product in June.Originally budgeted outputActual outputRaw materials used in productionPurchases of raw materialsActual direct labor-hoursActual cost of raw materials purchasesActual direct labor costActual variable overhead cost2,700 units2,800 units19,380 ounces21,400 ounces500 hours$ 40,660$ 12,050$3,100e company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is comen the materials are purchased.

Name: 17 Purchases of raw materialsActual direct labor-hoursActual cost of r
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: 17 Purchases of raw materialsActual direct labor-hoursActual cost of raw materials purchasesActual direct labor costActual variable overhead costThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases

Direct labor rate variance is the difference between the standard rate and the actual rate,…

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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 6.5 ounces $ 2.00 per ounce $23.00 per hour Direct labor 0.2 hours $13.00 $4.60 Variable overhead 0.2 hours $6.00 per hour $ 1.20 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 Actual direct labor cost Actual variable overhead cost 2,700 units 2,800 units 19,380 ounces 21,400 ounces 500 hours $ 40,660 $ 12,050 $ 3,100 e company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is com en the materials are purchased.