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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost Per Unit or Hours Rate Direct materials 5.5 $ 2.00 per 2$ 11.00 ounces ounce $ 11.00 per hour $ 8.00 per hour Direct labor 0.4 hours 4.40 Variable overhead 0.4 hours 3.20 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 4,100 units 4,100 units 23,500 ounces 24,000 ounces 550 hours Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost $ 42,800 $ 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 labor rate variance for June is Multiple Choice

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost Per Unit or Hours Rate Direct materials 5.5 $ 2.00 per 2$ 11.00 ounces ounce $ 11.00 per hour $ 8.00 per hour Direct labor 0.4 hours 4.40 Variable overhead 0.4 hours 3.20 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 4,100 units 4,100 units 23,500 ounces 24,000 ounces 550 hours Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost $ 42,800 $ 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 labor rate variance for June is Multiple Choice

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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9q-13
Tharaldson Corporation makes a product with the following standard costs:. Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 5.5 ounces $ 2.00 per 2$ 11.00 ounce Direct labor Variable overhead $ 11.00 per hour $ 8.00 per hour 0.4 hours 4.40 0.4 hours 3.20 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 4,100 units 4,100 units 23,500 ounces 24,000 ounces Actual direct labor-hours 550 hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost $ 42,800 $ 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 labor rate variance for June is Multiple Choice
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs:. Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 5.5 ounces $ 2.00 per 2$ 11.00 ounce Direct labor Variable overhead $ 11.00 per hour $ 8.00 per hour 0.4 hours 4.40 0.4 hours 3.20 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 4,100 units 4,100 units 23,500 ounces 24,000 ounces Actual direct labor-hours 550 hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost $ 42,800 $ 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 labor rate variance for June is Multiple Choice
of Faw materials purcnases $ 42,800 $ 14,100 $ 4,050 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 labor rate variance for June is Multiple Choice $1.523 F $8,050 F $1.523 U $8,050 U
Transcribed Image Text:of Faw materials purcnases $ 42,800 $ 14,100 $ 4,050 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 labor rate variance for June is Multiple Choice $1.523 F $8,050 F $1.523 U $8,050 U
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