The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $5 per gallon) Direct labor (1 hours @ $10 per hour) $ 10.00 $ 10.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material 51,000 gallons @ $ 4.90 per gallon Direct labor 24,500 hours @ $9.75 per hour The direct material usage variance was: Multiple Choice $15,000 unfavorable. $14,700 unfavorable. $15,000 favorable. $14,700 favorable.

The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $5 per gallon) Direct labor (1 hours @ $10 per hour) $ 10.00 $ 10.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material 51,000 gallons @ $ 4.90 per gallon Direct labor 24,500 hours @ $9.75 per hour The direct material usage variance was: Multiple Choice $15,000 unfavorable. $14,700 unfavorable. $15,000 favorable. $14,700 favorable.

Name: The Russell Company provides the following standard cost data per uni
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Description: The Russell Company provides the following standard cost data per unit of product:Direct material (2 gallons @ $5 per gallon)Direct labor (1 hours @ $10 per hour)$ 10.00$ 10.00During the period, the company produced and sold 24,000 units, incurring

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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