H Inc. produces cases for iPods for world distribution. The standard costs for making the iPods are
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H Inc. produces cases for iPods for world distribution. The standard costs for making the iPods are as | ||||||||
follows: | SEE PAGE 437. | |||||||
Standard costs | Actual costs | |||||||
Direct materials | 1500 pounds, at $35 | 1600 pounds, at $32 | ||||||
Direct labor | 4800 hours, at $11 | 4500 hours at $11.80 | ||||||
Factory overhead | Rates per hour, based on 100% of | |||||||
normal capacity of 5500 labor hours: | ||||||||
Variable cost, $2.40 | $12300 - variable cost | |||||||
Fixed cost, $3.50 | $19250 - fixed cost | |||||||
Instructions: NOTE: SHOW ALL WORK. | ||||||||
1. | Determine the three (3) direct materials cost variances. | SEE PAGE 439. | ||||||
2. | Determine the three (3) direct labor cost variances. | SEE PAGE 439. | ||||||
3. | Determine the three (3) factory overhead cost variances. | SEE PAGE 439. |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: