VitexIncorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard
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VitexIncorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours pounds hours hours Standard Price or Standard Rate per pound $ per hour per hour Total Variances Reported Quantity or Price or RateEfficiency F U U U F Standard Cost Direct materials Direct labor Variable manufacturing overhead Applied to Work in Process during the period The company's manufacturing overhead cost is applied to production on the basis of direct laborhours All of the materials purchased during the period were used in production Work in process inventories are Insignificant and can be ignored Required: How many units were produced last period? How many pounds of direct material were purchased and used in production What was the actual cost per pound of material? Round your answer to decimal places. How many actual direct labor hours were worked during the period
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date: