24 MONTH MYLAB (MAN)
7th Edition
ISBN: 9780136503521
Author: MILLER-NOBLES
Publisher: PEARSON
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Please help me solve this financial accounting problem with the correct financial process.
BrightCo produces 10,000 units. Costs
.
Direct materials: $6
•
Direct labor: $5
per
unit:
•
.
•
Variable manufacturing overhead: $1.50
Fixed manufacturing overhead: $3
Selling expense: $2
Administrative expense: $2.50
What's the total product cost?
Gadot Industries developed the following per-unitstandards for its product: 7 pounds of direct materials at $4.85 per pound. Last month, 52,000 pounds of direct materials were purchased for $247,000, and 49,000 pounds were used in production. What is the direct materials price variance? A. $7,800 favourable B. $6,500 unfavourable C. $6,450 favourable D. $7,150 unfavourable
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