Oak Company's standard cost card for the product it manufactures is presented below: Standard Cost Standard...
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Oak Company's standard cost card for the product it manufactures is presented below: Standard Cost Standard quantity (or hours) Standard Price (or rate) Direct Material $ 7.50 per unit 2.5 pounds per unit 0.5 hours per unit $ 3.00 per pound $20.00 per hour Direct Labor $10.00 per unit Manufacturing Overhead 0.5 hours per unit $6.00 per hour $ 3.00 per unit During the current period, Oak purchased 21,000 pounds of material for $58,000. All of the material was used to produce 9,000 units of product. Oak's materials spending variance is: $9,500 Favorable $4.500 Unfavorable $5,000 Favorable $4,500 Favorable Oak Company's standard cost card for the product it manufactures is presented below: Standard Cost Standard quantity (or hours) Standard Price (or rate) Direct Material $ 7.50 per unit 2.5 pounds per unit 0.5 hours per unit $ 3.00 per pound $20.00 per hour Direct Labor $10.00 per unit Manufacturing Overhead 0.5 hours per unit $6.00 per hour $ 3.00 per unit During the current period, Oak purchased 21,000 pounds of material for $58,000. All of the material was used to produce 9,000 units of product. Oak's materials spending variance is: $9,500 Favorable $4.500 Unfavorable $5,000 Favorable $4,500 Favorable
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Related Book For
Managerial Accounting
ISBN: 978-1259024900
9th canadian edition
Authors: Ray Garrison, Theresa Libby, Alan Webb
Posted Date:
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