Question

Refer to the information in PA9-9 for Rip Tide.


Rip Tide has the following actual results for the month of June:
Number of units produced and sold ......... 312
Number of square feet of fiberglass used ...... 4,920
Cost of fiberglass used ............... $27,552
Number of labor hours worked ........... 3,060
Direct labor cost ............... $47,736
Variable overhead cost ............. $14,790
Fixed overhead cost ............. $20,500

Required:
Prepare the journal entries to record the following for Rip Tide:
1. Direct materials costs and related variances. Assume the company purchases raw materials as needed and does not maintain any ending inventories.
2. Direct labor and relatedvariances.


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  • CreatedFebruary 27, 2015
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