a. Compute the Direct Materials Varia United Carborundum Company manufactures 100-pound bags of chemicals that have the followingunit standard costs for direct materials and direct labor:Direct materials (100 lbs. @s1.00 per Ib.)Direct labor (o.5 hours at s24, per hour)Total standard direct cost per 100 lb. bags100.0012.00s112.00The following activities were recorded for October:1,000 bags were manufactured.95,000 Ibs. of materials costing s76,000 were purchased.102,500 lbs. of materials were used.$12,000 was paid for 475 hours of direct labor.There was no beginning or ending work-in-process inventories.CSScanned with CarmScanner

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United Carborundum Company manufactures 100-pound bags of chemicals that have the following unit standard costs for direct materials and direct labor: Direct materials (10o Ibs. @s1.00 per Ib.) Direct labor (o.5 hours at s24 per hour) Total standard direct cost per 100 Ib. bag 5100.00 12.00 s112.00 The following activities were recorded for October: 1,000 bags were manufactured. 95,000 lbs. of materials costing $76,000 were purchased. 102,500 lbs, of materials were used. $12,000 was paid for 475 hours of direct labor. There was no beginning or ending work-in-process inventories.

United Carborundum Company manufactures 100-pound bags of chemicals that have the following unit standard costs for direct materials and direct labor: Direct materials (10o Ibs. @s1.00 per Ib.) Direct labor (o.5 hours at s24 per hour) Total standard direct cost per 100 Ib. bag 5100.00 12.00 s112.00 The following activities were recorded for October: 1,000 bags were manufactured. 95,000 lbs. of materials costing $76,000 were purchased. 102,500 lbs, of materials were used. $12,000 was paid for 475 hours of direct labor. There was no beginning or ending work-in-process inventories.

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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