Oak Company's standard cost card for the product it manufactures is presented below: Standard quantity (or...
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Oak Company's standard cost card for the product it manufactures is presented below: Standard quantity (or hours) Standard Price (or rate) Standard Cost 2.5 pounds per unit Direct Material $ 7.50 per unit $10.00 per unit Direct Labor $ 3.00 per pound $20.00 per hour $6.00 per hour 0.5 hours per unit Manufacturing Overhead0.5 hours per unit $ 3.00 per unit During the current period, Oak used 5,000 direct labor hours to produce 9,000 units of product. Actual direct labor costs for the period were $105,000. Oak's direct labor rate variance is: $10,000 Unfavorable $5,000 Unfavorable $5,000 Favorable $15,000 Unfavorable Oak Company's standard cost card for the product it manufactures is presented below: Standard quantity (or hours) Standard Price (or rate) Standard Cost 2.5 pounds per unit Direct Material $ 7.50 per unit $10.00 per unit Direct Labor $ 3.00 per pound $20.00 per hour $6.00 per hour 0.5 hours per unit Manufacturing Overhead0.5 hours per unit $ 3.00 per unit During the current period, Oak used 5,000 direct labor hours to produce 9,000 units of product. Actual direct labor costs for the period were $105,000. Oak's direct labor rate variance is: $10,000 Unfavorable $5,000 Unfavorable $5,000 Favorable $15,000 Unfavorable
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Labor rate variance 5000 unfavorable Formula actual h... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259024900
9th canadian edition
Authors: Ray Garrison, Theresa Libby, Alan Webb
Posted Date:
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