Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: Inputs Direct materials Direct labor (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) x (2) 2.10 pounds 1.00 hours 1.00 hours $ 17.00 per pound $ 15.80 per hour $ 9.60 per hour $ 61.10 $ 35.70 $ 15.80 $ 9.60 Variable manufacturing overhead Total standard cost per unit Total Standard Cost* Variances Reported Quantity or Efficiency $ 34,000 U $ 15,800 U $ ?tu Price or Rate Direct materials $ 606,900 $ 10,933 F Direct labor $ 268,600 Variable manufacturing overhead $ 163,200 $ 3,600 U $ 4,500 F "Applied to Work in Process during the period.
Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: Inputs Direct materials Direct labor (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) x (2) 2.10 pounds 1.00 hours 1.00 hours $ 17.00 per pound $ 15.80 per hour $ 9.60 per hour $ 61.10 $ 35.70 $ 15.80 $ 9.60 Variable manufacturing overhead Total standard cost per unit Total Standard Cost* Variances Reported Quantity or Efficiency $ 34,000 U $ 15,800 U $ ?tu Price or Rate Direct materials $ 606,900 $ 10,933 F Direct labor $ 268,600 Variable manufacturing overhead $ 163,200 $ 3,600 U $ 4,500 F "Applied to Work in Process during the period.
Chapter5: Process Costing
Section: Chapter Questions
Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...
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