COGS is based on a standard cost that is comprised of $50 material cost per unit, $25
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Question:
COGS is based on a standard cost that is comprised of $50 material cost per unit, $25 labor cost per unit and $10 overhead allocation cost / unit.
1,000,000 units were sold in 2019; 800,000 units were produced in 2019
Labor inefficiencies resulted in an incremental 15 minutes of labor charge / unit at the rate of $12.50/hour.
The material purchase price variance averaged $3.12/unit
Calculate:
COGS - Standard |
COGS - Material variance |
COGS - Labor variance |
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date: