The Albright Company uses standard costing and has established the following standards for its single product: 2 litres at $3 per litre 0.5 hours at $8 per hour 0.5 hours at $2 per hour Direct Materials Direct Labour Variable Manufacturing Overhead During November, the company made 4,000 units and incurred the following costs: Direct Materials Purchased Direct Materials Used Direct Labour Used Actual Variable Manufacturing Overhead 8,100 litres at $3.10 per litre 7,600 litres 2,200 hours at $8.25 per hour $4,175 The company applies variable manufacturing overhead to products on the basis of direct labour hours. 4 What was the labour efficiency variance for November? $550 unfavourable, A) $1,050 ynfavourable, $1,600 favourable. $1,600 unfavourable, D) 5. What was the total variable overhead variance for November? $175 unfavourable. A) B) $225 favourable. $225 unfavourable, $400 unfavourable, D)

The Albright Company uses standard costing and has established the following standards for its single product: 2 litres at $3 per litre 0.5 hours at $8 per hour 0.5 hours at $2 per hour Direct Materials Direct Labour Variable Manufacturing Overhead During November, the company made 4,000 units and incurred the following costs: Direct Materials Purchased Direct Materials Used Direct Labour Used Actual Variable Manufacturing Overhead 8,100 litres at $3.10 per litre 7,600 litres 2,200 hours at $8.25 per hour $4,175 The company applies variable manufacturing overhead to products on the basis of direct labour hours. 4 What was the labour efficiency variance for November? $550 unfavourable, A) $1,050 ynfavourable, $1,600 favourable. $1,600 unfavourable, D) 5. What was the total variable overhead variance for November? $175 unfavourable. A) B) $225 favourable. $225 unfavourable, $400 unfavourable, D)

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Description: The Albright Company uses standard costing and has established the following standards for itssingle product:Direct MaterialsDirect LabourVariable Manufacturing Overhead2 litres at $3 per litre0.5 hours at $8 per hour0.5 hours at $2 per hourDuring N

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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