INTERMEDIATE ACCOUNTING ACCESS 540 DAY
10th Edition
ISBN: 9781264706327
Author: SPICELAND
Publisher: MCG
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Rolex Industries uses a predetermined overhead rate based on direct labor hours. The company applies overhead at a rate of $9 per direct labor hour, which consists of a variable overhead rate of $5 per direct labor hour and a fixed overhead rate of $4 per direct labor hour. The budgeted fixed overhead costs for the period total $60,000. Using the budgeted direct labor hours, calculate the total budgeted overhead for the period.
Yardley Electronics purchased 3,500 tablets and has 600 tablets in its ending inventory at a cost of $120 each and a current replacement cost of $110 each. The net realizable value (NRV) of each tablet in the ending inventory is $95. The ending inventory under the lower-of-cost-or-net realizable value (LCNRV) is?
What is the direct materials price variance of this accounting question?
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