You have been given the following information about the production of Melissa Co., and are asked to provide the factory manager information for a meeting with the vice president of operations. Direct materials (9 pounds at $5 per pound) Direct labor (0.8 hours at $10) Variable overhead (0.8 hours at $4 per hour) Fixed overhead (0.8 hours at $7 per hour) Costs Direct materials Direct labor (a) The following is a variance report for the most recent period of operations. Standard Cost Card $45.00 Total Standard Cost $405,000 72,000 Number of units Price 3.20 5.60 $61.80 How many units were produced during the period? 8.00 $8,284 F Variances 5,135 U Quantity $9,200 U 7,000 U
You have been given the following information about the production of Melissa Co., and are asked to provide the factory manager information for a meeting with the vice president of operations. Direct materials (9 pounds at $5 per pound) Direct labor (0.8 hours at $10) Variable overhead (0.8 hours at $4 per hour) Fixed overhead (0.8 hours at $7 per hour) Costs Direct materials Direct labor (a) The following is a variance report for the most recent period of operations. Standard Cost Card $45.00 Total Standard Cost $405,000 72,000 Number of units Price 3.20 5.60 $61.80 How many units were produced during the period? 8.00 $8,284 F Variances 5,135 U Quantity $9,200 U 7,000 U
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Subject : Accounting
Transcribed Image Text:You have been given the following information about the production of Melissa Co., and are asked to provide the factory manager
information for a meeting with the vice president of operations.
Direct materials (9 pounds at $5 per pound)
Direct labor (0.8 hours at $10)
Variable overhead (0.8 hours at $4 per hour)
Fixed overhead (0.8 hours at $7 per hour)
Costs
Direct materials
Direct labor
(a)
The following is a variance report for the most recent period of operations.
Standard Cost Card
$45.00
Total Standard Cost
$405,000
72,000
Number of units
Price
How many units were produced during the period?
8.00
3.20
5.60
$61.80
Variances
$8,284 F
5,135 U
Quantity
$9,200 U
7,000 U
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