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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 5.5 ounces $4.00 per ounce Direct labor 0.6 hours $22.00 $6.60 $11.00 per hour Variable overhead 0.6 hours $ 8.00 per hour $4.80 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 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours $ 42,600 $ 14,100 $ 4,050 he company applies variable overhead on the basis of direct labor-hours. The direct materials purchas hen the materials are purchased.

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.5 ounces $4.00 per ounce Direct labor 0.6 hours $22.00 $6.60 $11.00 per hour Variable overhead 0.6 hours $ 8.00 per hour $4.80 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 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours $ 42,600 $ 14,100 $ 4,050 he company applies variable overhead on the basis of direct labor-hours. The direct materials purchas hen the materials are purchased.

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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Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,800 hours $ 42,600 $14,100 $ 4,050 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: O $3,800 Unfavorable O $1,984 Unfavorable O $1,984 Favorable O $3,800 Favorable
Transcribed Image Text:Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,800 hours $ 42,600 $14,100 $ 4,050 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: O $3,800 Unfavorable O $1,984 Unfavorable O $1,984 Favorable O $3,800 Favorable
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.5 ounces $ 4.00 per ounce Direct labor 0.6 hours $22.00 $6.60 $11.00 per hour Variable overhead 0.6 hours $ 8.00 per hour $4.80 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 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours $ 42,600 $ 14,100 $ 4,050 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases when the materials are purchased.
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.5 ounces $ 4.00 per ounce Direct labor 0.6 hours $22.00 $6.60 $11.00 per hour Variable overhead 0.6 hours $ 8.00 per hour $4.80 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 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours $ 42,600 $ 14,100 $ 4,050 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases when the materials are purchased.
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