SkiTwin Corporation uses a standard cost system to assist in its manufacture of water skis, and uses
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Question:
SkiTwin Corporation uses a standard cost system to assist in its manufacture of water skis, and uses a standard cost system to assist in its manufacture of water skis, na d uses direct labour hours to apply its overhead. The company controller provides you with the following information on the results of its most recent year end.
There were no beginning or ending work-in-process inventories, but there were 4,000 units of finished goods at the end of the year.
Required:
a. Calculate the standard cost of goods sold for the year just ended.
b. Calculate the direct materials flexible budget variance.
c. Calculate the direct labor efficiency variance.
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